CAF has invested into Asia Potash Group Company which possesses exploration and mining concessions to develop potash mines in Khammouane Province of Laos. With one of the largest potassium resources in Asia, the mining project is of strategic importance to the region and is anticipated to become the largest potash producer in Asia.
The China-ASEAN Investment Cooperation Fund (CAF) has completed an equity investment into Laemchabang Port. Strategically located in close proximity to the country's leading industrial and manufacturing region, Laem Chabang Port is Thailand's largest deep-water port and is quickly developing into a regional hub of maritime trade.
IFC, the member of the World Bank Group focused on private sector development in emerging markets, officially became a cornerstone investor in the China-ASEAN Investment Cooperation Fund (CAF). In addition to broadening the Fund's investor base, CAF will benefit from the IFC's wealth of international investment experience.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. The IFC creates opportunity for people to escape poverty and improve their lives. The IFC does so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, the IFC's new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org.
CAF signed a share subscription agreement to become a strategic investor in International Telecommunications Holdings Limited, the sole shareholder of Cambodia Fiber Optic Communication Network Co. Striving to spur development in the country's information technology industry, CFOCN has created a nationwide communication backbone.
Marking the Fund's maiden investment, the China-ASEAN Investment Cooperation Fund (CAF) has invested in the Philippine shipping and logistics industry through an equity investment into Negros Navigation (NN) to buyout Aboitiz Transport System (ATS). ATS is the largest domestic shipping and logistic company in the Philippines followed by NN.CAF's investment will help drive consolidation in the industry and enhance the movement of cargo and passengers in this distinctly archipelagic country.