Developing countries across Asia could access potentially billions of more dollars to improve their water, energy and telecommunications infrastructure. The failure to effectively connect capital to major infrastructure projects is holding back progress, according to Mitesh Patel, the new head of Black & Veatch’s Management Consulting business in Southeast Asia, India and the Middle East.
Alongside Patel’s appointment, Black & Veatch has also promoted Jimmy Chan to managing director for its management consulting business in Northeast Asia. The new roles reflect the opportunity to work earlier with the Asian financial community and guide a new generation of private developers and banks in the region. Much work is needed to strengthen the planning process and collaboration on commercial solutions to improve the bankability of infrastructure projects.
“The aftermath of the financial crisis for Asian development is that more capital is being sourced within Asia for Asia. The advantage is that there is an increased understanding of local requirements but that comes with the downside that many new investors have not been exposed to the same degree or breadth of risk,” said Patel. “What it calls for is better planning and deeper assessment of technical and commercial project risk, as well as closer collaboration between governments, private financiers and developers to improve the certainty of returns on investments.”
According to Lynn Bertuglia, senior managing director, Asia and the Middle East for Black & Veatch’s Management Consulting business, “With the appointments of Mitesh Patel and Jimmy Chan, we are well positioned to stay in tune with our clients’ needs to improve efficiency, manage risk and derive more value from their investments across the region. Drawing on our decades of power and water projects, there are many real opportunities to advise on and develop well-planned, commercially-viable and risk-managed infrastructure that will meet the needs of Asia.”
"Drawing on our decades of power and water projects, there are many real opportunities to advise on and develop well-planned, commercially-viable and risk-managed infrastructure that will meet the needs of Asia.”
Lynn Bertuglia, Senior Managing Director, Asia and the Middle East for Black & Veatch’s Management Consulting business
Patel brings more than 20 years of experience in the energy sector. He previously led asset management teams and worked with project developers and financiers in developing power market opportunities. As a consultant, he has worked across all power technologies including combined cycle gas turbines, supercritical coal-fired plants and renewables including wind and biomass. Prior, he has worked with General Electric, Shell and China Light & Power.
Chan also has more than 20 years of experience in the power generation industry. He has extensive experience working on technical due diligence projects, including almost two years as a senior management consultant at Black & Veatch. Prior to his career as a consultant, Chan worked for the Hong Kong Electric Company.
According to the World Bank, the region needs to invest USD $10 trillion in this decade alone [1]. Only a fraction of this capital will be connected to projects if financing practices are not tightened.
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Editor’s Notes:
- Patel is based in Singapore and is responsible for driving the Black & Veatch’s management consulting business in Southeast Asia, India and the Middle East.
- Chan is based in Hong Kong and is responsible for the business across mainland China, Taiwan, Mongolia, Hong Kong, Japan and South Korea.
- Black & Veatch has been delivering innovative water, energy and infrastructure solutions in Asia for more than 90 years.
- Black & Veatch provides comprehensive management consulting services within the power, oil & gas, water and technology industries. The company’s provides integrated strategy, process and technology solutions to a wide variety of clients including utilities, municipalities and financial institutions in five key areas – finance & markets, asset management, operational technologies, customer operations and security & compliance.
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[1] http://www.worldbank.org/en/news/press-release/2014/10/09/world-bank-group-launches-new-global-infrastructure-facility
About Black & Veatch
Black & Veatch is an employee-owned, global leader in building critical human infrastructure in Energy, Water, Telecommunications and Government Services. Since 1915, we have helped our clients improve the lives of people in over 100 countries through consulting, engineering, construction, operations and program management. Our revenues in 2018 were US$3.5 billion. Follow us on social media.
