Citi Venture to infuse Rs 150 cr in SVIL Mines Ltd

New Delhi, Sept 18 (UNI) Equity firm Citi Venture Capital International (CVCI) today said it will invest Rs 150 crore in SVIL Mines Ltd (part of Floriana Group) to expand its marble business.

''We are investing Rs 150 crore equity amount in SVIL Mines Ltd to help them be a industry leader by 2012. We will have a 20 per cent equity stake in it,'' CVCI Managing Director (India and West Asia) Ajay Rehlan told reporters here.

The return on investment (RoI) will be 40 per cent per annum, he added.

Mr Rehlan said the funding will be made through 4.5 billion dollar Citi Venture Capital International growth partnership fund.

''We invest in people to help them grow nationally as well as internationally. The investment in SVIL will ensure that it can market their marbles world over,'' Mr Rehlan said.

UNI