JAPANESE investment bank Nomura has set up a project finance company in Hong Kong to specialise in infrastructure development and privatisation. Nomura Project Finance International has paid-in capital of US$50 million and is headed by Koji Kashiwaya, a former World Bank vice-president. Mr Kashiwaya said the company aimed to take advantage of the growing trend of worldwide privatisation, and an increasing private sector role in areas such as energy and infrastructure development.