PHI Group Inc (PHIL)

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Launch of Vietnam focused infrastructure fund by Tecco and PHILUX

Vietnam-based Tecco Group joins PHILUX Global Funds to launch the first Luxembourg-based Vietnam-focused PHILUX Infrastructure Fund.

PHI Luxembourg Development, a subsidiary of US-based management consulting company PHI Group signed an agreement with the Vietnamese construction investment company Tecco Group.

Tecco Group plans to utilize the fund to support transport infrastructure, and development of ports, industrial zone clusters, and airport projects.

PHILUX Global Funds, activated by PHI Group, is a reserved alternative invest fund. It plans to create multiple sub-fund compartments for investment in real estate, infrastructure, renewable energy, and healthcare. It also aims to invest in the development of Chu Lai Open Economic Zone in Quang Nam Province, which would hold the proposed Chu Lai Multiple Commodities Center and the Asia Diamond Exchange.

Besides that, the fund also targets investment of about €100 million ($117 million) in housing projects in Hanoi, Ho Chi Minh, and Da Nang, Philux Global Funds told IJGlobal.