SREI Infras enters 50:50 JV with BNP Paribas Grp

New Delhi, May 31: SREI Infrastructure Finance Ltd today entered into a 50:50 joint venture with the leasing arm of BNP Paribas, BNP Paribas Lease Group to form a new company for equipment finance.

The JV is being formed with an initial networth of Rs 800 crore, a statement said.

The current infrastructure equipment business of SREI along with its insurance broking activity will be transferred to this JV.

Vice Chairman and Managing Director of the company Hemant Kanoria, said, ''We are the largest player in the financing of infrastructure equipment and collaborating with BPLG will help in increasing our market share further and also expanding the product line into financing of agriculture, information technology, medical and other equipment.''

UNI