SREI Infrastructure forges strategic tie-up with European Bank

Mumbai, Jan 15 (UNI) SREI Infrastructure Finance will shortly enter into a strategic partnership with the European Bank for Reconstruction and Development (EBRD), one of the world's leading international financial institutions.

The company said that the strategic partnership comprises an investment by the EBRD in the equity of SREI Russia and extension of credit lines to support the business of the overseas Company.

SREI's immediate plan would be to extend its presence from Moscow to St Petersburg and other regions in Russia, a company release here said.

The Company has recently diversified successfully into the growing Oil and Gas sector by structuring and financing work-over rigs which will be deployed in West Siberia, the release added.

The tie-up with SREI, will be the first direct project of the EBRD with an Indian Company and its association is likely to pack a punch to the growing involvement of SREI's foray into construction equipment leasing sector in Russia, the release said.

SREI's growth graph is well known given its strong linkages and relationships with the multilateral financial institutions, vendors and its successful experience in India.

Having set up its operation is Russia in the latter half of 2005, the Company has chalked out plans to scale up businesses by rapidly entering the strategic infrastructure space in the region, which presently is experiencing a boom.

The EBRD, owned by 61 countries and two inter-governmental institutions, aims to foster the transition from centrally planned to market economies in countries from Central Europe to Central Asia. The Bank is the largest single investor in Eastern and Central Europe and mobilizes significant foreign direct investment beyond its own financing.

It also provides project financing for banks, industries and businesses, both new ventures and investments in existing Companies.

It closely works with publicly owned Companies, to support privatisation, restructuring of state-owned firms and improvement of Municipal services. The EBRD uses its close relationship with governments in the region to promote policies that will bolster the business environment.

UNI