SREI Infrastructure to auction interest rate

Chennai, Aug 30 (UNI) SREI Infrastructure Finance Limited, a leading infrastructure equipment finance company, will hold 'Paison Ki Nilami' (PKN) 2007, an unique event for auction of interest rates, for acquiring infrastructure equipment here at the Chennai Trade Centre tomorrow.

This would be the eight auction of its kind since the pilot event was successfuly held in Kolkata in November 2004.

Talking to newspersons here today, Company Executive Director K K Mohanty said "a highly successful event, PKN, in its last seven editions spanning nearly three years, has managed to rake in business to the tune of Rs 1,269 crore. In Chennai, the company expects to do business worth Rs 300 crore." The innovative concept heralded a new begining for customers with another trend setting innovation in the sector of infrastructure equipment financing at competitive prices and lowest interest rates, he claimed.

"PKN, Chennai is specially targeted for all the customers in Tamil Nadu and Kerala besides customers from the rest of the country," he said adding there would be around 700 bidders in the event.

"There would be more than 35 pieces of equipment with value ranging from Rs 20 lakh to Rs 3.5 crore," he added.

UNI