CORRECTED-(OFFICIAL)-HK’s CKI says looking at over 10 potential

(Company corrects seventh paragraph to say that High Speed 1 is
a railway, not a tunnel project)

HONG KONG, Sept 1 (BestGrowthStock) – Cheung Kong Infrastructure
(CKI) (1038.HK : ) said it was looking at more than 10 projects in
Europe, North America, Australia and New Zealand, after it
struck a $9 billion deal to buy Britain’s biggest power network.

“Money is not an issue and the most important thing is
whether we can find good projects,” CKI group managing director
Kam Hing Lam told reporters on the sidelines of an
infrastructure conference in Hong Kong.

The company, controlled by Hong Kong billionaire Li
Ka-shing, had cash on hand of more than HK$10 billion ($1.5
billion) at the end of June.

Kam would not directly comment on a Reuters report that it
was bidding for Britain’s high-speed rail line, High Speed 1,
which could fetch 1.5 billion pounds ($2.3 billion).
[ID:nLDE67G0S0]

But he said the company has consistently targeted projects
with certainty of returns and strong recurrent cashflow.

CKI, a unit of Hutchison Whampoa Ltd (0013.HK: ), is one of
the bidders for Britain’s only high-speed rail line, three
people familiar with the matter told Reuters last month.

“This is a rail project that has a 30-year concession,” Kam
said. “The bidding is at its very preliminary stage and they
have just asked for potential bidders to show their hands.”.

In late July, the company teamed up with affiliate Hongkong
Electric (0006.HK: ) and the Li Ka-shing foundation to buy
Britain’s biggest electricity distribution network from France’s
EDF (EDF.PA: ) for $9 billion, CKI’s largest investment ever.

“The UK power grid was a ‘must bid’ project for CKI, as we
had electricity distribution investments in other countries but
not in the UK at that time,” he said.

The deal will roughly double CKI’s presence in Britain.
(Reporting by Alison Leung; Editing by Ken Wills and Jonathan
Hopfner)

CORRECTED-(OFFICIAL)-HK’s CKI says looking at over 10 potential