InfraCo Asia Development has signed a joint venture agreement to develop a hydroponics project in Junga in the Shimla district of Himachal Pradesh. InfraCo Asia – through its South Asia developer team, Equicap Asia and local partner Junga FreshnGreen – will establish a 9.3-hectare hydroponics-based agricultural facility.
InfraCo Asia funds pre-financial close, early stage, high-risk infrastructure development activities by taking an equity stake in sustainable and commercially viable infrastructure projects. It aims to stimulate greater private sector investment in infrastructure in South and Southeast Asia.
InfraCo Asia will invest US$1.1 million in the project, which has a total value of US$4.45 million. Private Infrastructure Development Group is also supporting the project through its technical assistance facility, which will provide US$800,000 in financial assistance.
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