SCI Asia becomes minority shareholder in Navigat

By Godang Sitompul

Navigat Group Pte Ltd, a Southeast Asian developer of power plants and supplier of energy solutions with its core businesses in Indonesia and Singapore, announced that SCI Asia has recently invested in Navigat to become a substantial minority shareholder.

SCI Asia, or Standard Chartered IL&FS Asia Infrastructure Growth Fund Company Pte Ltd, is an infrastructure fund jointly raised by the Standard Chartered Bank with the Infrastructure Leasing & Financial Services Limited (IL&FS), which is one of India's leading financial services companies.

According to a statement from the Navigat, the investment will be used to support its growth strategy. ?We are excited about entering this next phase of our company?s growth strategy,? said Sebastiaan Sauren, COO and Co-Founder. ?Navigat plays a unique role as a developer of power plants and supplier of energy in the growing Indonesian market for electricity. This investment supports the management team?s vision to expand further in Indonesia and Southeast Asia; and from gas into oil and coal fired power plants.?

?We are delighted to have the opportunity to invest in Navigat,? stated Kanad Virk, Managing Director of SCI Asia. ?SCI Asia?s investment provides the capital to pursue growth opportunities, gain advantage in the Indonesian electricity market, expand value-added services and support our customers' demands.

Editing by Dadan Wijaksana