CIMB unit invests in Kazakh electric firm

CIMB Group Holdings Bhd says its private equity infrastructure unit, CapAsia, is investing US$50mil for a 12.9% shareholding in Kazakhstan's vertically-integrated power utility holding company Central Asian Electric Power Corp (Caepco).

In a statement, it said the investment, done via CapAsia's Islamic Infrastructure Fund, seeks to fund Caepco's extensive long-term investment programme to improve and upgrade the existing plants and distribution networks, to enhance energy efficiency, and to reduce harmful emissions.