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MDGIF Investment Policy Statement

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Applicable to:            MDGIF Project Promoters  
Equity Partners 
MDGIF INVESTMENT POLICY STATEMENT (MIPS) 
 
Code: MDGIF Guide 1001 - 2024 
 
Effective Date: 17th May 2024 
 
 
This document is a property of the Midstream and Downstream Gas Infrastructure Fund. All rights reserved. 
3 
3.12.2 
Anti-Corruption and Fraud ________________________________________________ 18 
3.13 
Non-Conforming Proposals _________________________________________________ 19 
4 
INVESTMENT POLICY AND GUIDELINES _____________________________________________ 20 
4.1 
Investment Principles_________________________________________________________ 20 
4.1.1 
Alignment with National Strategic Development Goals _____________________ 20 
4.1.2 
Long-term Focus with Clear Exit Strategy __________________________________ 20 
4.1.3 
Diversification of Portfolio _________________________________________________ 21 
4.1.4 
Environmental, Social, and Governance (ESG) _____________________________ 21 
4.1.5 
Transparency and Accountability _________________________________________ 21 
4.1.6 
Collaborative Project Management _______________________________________ 21 
4.2 
Project Screening and Evaluation _____________________________________________ 22 
4.3 
Investment Criteria ___________________________________________________________ 22 
4.4 
MDGIF Involvement in Infrastructure Projects __________________________________ 23 
4.5 
Base Currency _______________________________________________________________ 24 
4.6 
Return Target ________________________________________________________________ 24 
4.6.1 
Forms of Equity Investment Returns: _______________________________________ 24 
4.6.2 
Return Benchmark:_______________________________________________________ 24 
4.7 
MDGIF Reinvestments ________________________________________________________ 25 
4.8 
Asset Allocation and Exposure Limits __________________________________________ 25 
4.8.1 
General _________________________________________________________________ 25 
4.8.2 
Fund Allocation Principles ________________________________________________ 25 
4.8.3 
Project Account _________________________________________________________ 26 
4.9 
Capital Reinvestment and Compounding _____________________________________ 26 
4.10 
Socio Economic Investments _______________________________________________ 26 
4.11 
Investment of Idle Funds ____________________________________________________ 26 
4.11.1 
General _________________________________________________________________ 26 
4.11.2 
Investment Criteria for Idle Funds _________________________________________ 27 
5 
INVESTMENT FRAMEWORK ________________________________________________________ 28 
5.1 
Steps to Investments Decisions for MDGIF ______________________________________ 28 
5.1.1 
Project Origination and Sourcing __________________________________________ 28 
5.1.2 
Screening and Due Diligence _____________________________________________ 28 
5.1.3 
Management Investment Committee Review ______________________________ 29 
5.1.4 
Technical and Commercial Evaluation ____________________________________ 29 
5.1.5 
Final Investment Decision (FID) ___________________________________________ 30