PUTRAJAYA: Ekovest Bhd is set to issue Malaysia's largest ringgit-denominated greenfield toll-road project financing, worth RM3.64 billion, for its Setiawangsa-Pantai Expressway project (SPE).
The SPE project is worth RM3.9 billion, the largest project that the Ekovest Group will undertake to date.
"As part of the financing structure, Ekovest will inject RM850 million as equity into the project. This shows our commitment to deliver the best road infrastructure network in Kuala Lumpur," Ekovest managing director Datuk Seri Lim Keng Cheng said at the signing ceremony here, today.
Meanwhile, Minister of Finance II Datuk Johari Abdul Ghani said the proposed issuance of Sukuk Wakalah will be among the largest issuance for a new highway construction project as well as among the highest rated AA- sukuk so far in 2016.
"Of significance, it will also be the first Public Private Partnership project to use the government's Reimbursable Interest Assistance as part of its financing structure," said Johari.