Credit Suisse to invest $113 mn in Indu Projects

Hyderabad, Aug 18: The city-based Indu Projects Limited, one of India's fastest growing infrastructure players, has received an investment of 77 million US Dollar from Credit Suisse, a leading global financial services company, from an overall commitment of 113 million USD. ''We are excited to be partnering with Credit Suisse to propel our future business initiatives,'' Indu Projects Chairman and Managing Director I Syam Prasad Reddy said in a release here.

''This substantial investment will help us create value by expanding our presence within India. It is also an important step in our diversification, wherein we plan to utilize our partner's global reach.'' Credit Suisse Managing Director and Head of Real Estate Finance (Asia Pacific) Sameer Nayar said: ''This investment bolsters Credit Suisse's long term commitment to India. We have a great partner in Indu and we view this as a tremendous opportunity to participate in the strong growth of the country's real estate and infrastructure sectors.''

UNI