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DEG finances equipment for India’s infrastructure.

DEG finances equipment for India’s infrastructure

 

•           USD 25 million for SREI Equipment Finance Limited

•           Financing for infrastructure and construction equipment to small and medium-sized enterprises

•           Long-standing partnership with SREI Group

 

The infrastructure sector is a major driver of the Indian economy. This is where financing from DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH, comes in: it provides a long-term loan of USD 25m to SREI Equipment Finance Ltd. (SEFL), one of the leading providers of equipment finance in the infrastructure and construction sector in India. This is intended to fund infrastructure and construction equipment (ICE) requirement among small and medium-sized enterprises (SME) operating in this sector. In India there is currently an increase in demand for these ICE.

SEFL funds new and used ICE and supports its customers throughout their asset life cycle; namely procurement, deployment, maintenance and selling. With a distribution network of 88 branches in pan-India and a team of around 1,650 staff, SEFL reaches out to over 60,000 customers throughout India, including small and medium-sized enterprises as well as large construction companies and project developers.

“With our financing, we are supporting SEFL in providing long-term capital for the important target group of SME. This way we are helping to make equipment financing for infrastructure projects in India accessible to a wider range of customers and increase the number of jobs in the small firms being financed”, stated Petra Kotte, Head of DEG’s Financial Institutions/German Corporates division.

“SREI’s initiatives have always been focussed in nation building by supporting the infrastructure sector. Over the years such initiatives have also created entrepreneurs and helped in job creation. We at SEFL are always eager to partner with institutions like DEG, who share similar ethos. We look forward to even deepen our associations with DEG in the future given our very common objectives”, stated Mr. Devendra Kumar Vyas, CEO of SEFL.

SEFL has been a customer of DEG since it was started up in 2006. A long-standing partnership also links DEG to the parent company SREI Infrastructure Finance Ltd., which has specialised in investments and project financing in the infrastructure sector. DEG supported the company back in 1995 as its first international capital investor. The SREI Group has developed into the leading supplier of financial services for the infrastructure sector. The loan to the SREI subsidiary is now set to deepen this relationship further.