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SREI raises USD45 mn from FMO to fund Infrastructure dev'mt in India

Written by: Staff
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Mumbai, Sept 14 (UNI) SREI Infrastructure Finance Ltd will raise Rs 210 crore loan from the Netherlands Development Finance Company FMO to fund infrastructure development in the country.

Announcing this, the company's release to BSE said FMO will provide a long-term syndicated loan of USD 45 Million (Rs 210 crore) to the company for which the cooperation agreement has been signed in New Delhi on September 14, 2006.

FMO has been stakeholder of the company since the last 10 years and over the years the relationship has strengthened. This is one of the large investment commitments by FMO in India. As lender of record FMO expands the company's funding basis by attracting long-term investors in the syndicate.

Furthermore FMO supports the company on environmental and social reporting issues. Mr Wim Wienk Regional Director, FMO signed the agreement with the company.

Mr Wim Wienk of FMO and Mr Hemant Kanoria - Vice Chairman and Managing Director of the company described the contract as the strengthening of an intensive cooperation for the financing of infrastructure investments in India.

Speaking on this occasion, Mr Hemant Kanoria, Vice Chairman&Managing Director, of the company said, ''Our association with FMO has been for more than over a decade now. The present commitment from FMO will definitely strengthen our relationship further. This amount will also provide us with the funds to extend assistance to small and medium enterprises involved in the infrastructure sector in India. We are extremely fortunate to have relationship with global institutions like FMO who have continuously supported our initiatives for the development and growth of infrastructure in our country.'' UNI SN KU AG2046

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