Exim Bank announced on 27 October 2015 that it will set up a development firm, the Kukuza Project Development Company (KPDC), in Africa to facilitate Indian participation in infrastructure projects across the continent.
IL&FS Group, African Development Bank and State Bank of India are also the shareholders in KPDC.
KPDC aims to strengthen every partner, who will complement each other in building Indian project exports while simultaneously aiding the furtherance of economic and political ties between India and Africa.
The company is expected to provide specialist project development expertise to take the infrastructure project from the concept stage to the commissioning stage in the African continent.
It will provide the entire gamut of project development expertise to projects such as pre-feasibility or feasibility studies, project identification, preparation of detailed project reports, environmental and social impact assessment.
KPDC will be operational from the first quarter of 2016.
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Who: Exim Bank
When: 27 October 2015