Sundaram Finance's forges JV with ETA, Dubai

Mumbai, Sep 6: The back-office unit of Sundaram Finance today announced a joint venture with the Dubai-based ETA Group to provide outsourced financial services to Middle East customers.

A Company press release said the back-office unit ''Sundaram Business Services'' holds 40 per cent stake in the joint venture(JV).

With a capital base of Rs 2 crore, the JV would start with 25 people and then gradually raise its staff strength to 150 in a time span of three years, Sundaram Finance managing director T T Srinivasaraghavan said in the press release.

The ETA Group has interests in construction, manufacturing, trading, shipping and retail.

UNI