New Zealand Infrastructure Minister to open expanded Morrison office in Singapore
Morrison, one of the world’s largest specialist infrastructure managers, is fostering closer ties with Asia and investing in its presence in Singapore. Its expanded office will be opened on Tuesday by New Zealand Minister for Infrastructure Hon. Chris Bishop and is a nod to the growing opportunities within the region.
Morrison Chief Executive Paul Newfield said the New Zealand-headquartered global infrastructure manager has been actively growing its footprint in Asia.
“Rajiv Khakhar relocated to Singapore from London last year to lead our regional Investment team and, this week, Operating Partner Hon. James Shaw – a former New Zealand Climate Change Minister – has also relocated here.
“In addition to our physical presence, our growth represents a commitment to fostering closer ties with Asian markets and contributing to the region's sustainable development.
“Infrastructure plays a critical role in transitioning Asia’s economy towards a low-carbon future. Singapore is a world-leader in developing sustainable and climate-resistant infrastructure, so is an excellent fit for our expanded operations.”
Morrison has a long-standing commitment to the region. In 2021, Infratil Limited, which is managed by Morrison, established Gurīn Energy which invests in the fast-growing Asian renewable energy sector. Gurīn Energy has recently completed its first operational project – the 75MW Palauig Solar Power Plant in the Zambales Province in the Philippines. The 80-hectare solar power plant has installed 136,363 of the latest ground-mounted, energy-efficient solar photovoltaic panels. This marks an exciting step forward in delivering clean, renewable energy to the region.
Gurīn Energy is also progressing its US$2.5 billion project to export green energy from Indonesia to Singapore through a solar and battery scheme, one of the largest of its kind. Singapore’s Energy Market Authority has granted a Conditional License to Vanda RE Pte Ltd – a joint venture company majority-owned by Gurīn Energy – aiming to deliver 300MW of firm, clean, renewable energy to Singapore by 2028. Work is now progressing to undertake the subsea survey and undertake an engineering, procurement, and construction tender.
The visit to Morrison’s Singapore office by New Zealand Minister for Infrastructure Hon. Chris Bishop follows on from the Government’s Infrastructure Investment Summit in Auckland, garnering considerable interest from investors in Southeast Asia. While Mr Bishop is in Singapore, Morrison is engaging with local investors about the infrastructure opportunities in New Zealand with the Minister.
Mr Bishop told the recent Auckland Summit that New Zealand has a big infrastructure deficit and addressing it is critical to boosting growth and improving productivity.
“Over the past 15 months, we have been laying the groundwork to create a highly performing infrastructure sector. We’ve laid out ambitious plans to remove red tape, improve funding and financing, and to make sure the government is a much better client.
"New Zealand is open for business, we are going for growth, and we are worth investing in - particularly in infrastructure."
