SREI Infrastructure to raise Rs 115 cr loan from German bank

New Delhi, July 11 (UNI) SREI Infrastructure Finance today said it has raised a long-term loan of Rs 115 crore from German government owned KfW IPEX-Bank, for financing its infrastructure investment in India.

''This partnership will strengthen our relationship with Germany, which is one of the largest German Government owned financial institutions. Germany has also been our choicest destination for creating our global subsidiary through which we have expanded in Europe and propose to foray into other countries also,'' SREI Vice Chairman and Managing Director Hemant Kanoria said.

Underlining that the bank intends to substantially expand its activities in India, KfW IPEX-Bank member of the Board of Managing Directors Christian Murach said, ''Within the next three years we want to increase our portfolio with India to approximately 3 billion dollar.'' He announced that the bank will open up a representative office in Mumbai for this purpose in the course of this year. Currently KfW IPEX-Bank already maintains representative offices in New York, London, Moscow, Ankara, Beijing, Bangkok, and Sao Paulo.

SREI is one of the leading players in India for infrastructure.

It has also been financing infrastructure projects and renewable energy products.

UNI CS RS1414