GMR Infrastructure on 2 September 2014 signed Memorandum of Understanding (MOU) with Japan Bank for International Cooperation (JBIC) for infrastructure sector.
The objective of this MoU is to provide low-cost, long-term financing for infrastructure projects that involve Japanese companies. These could be for the development of industrial parks, power, energy, ports, airports, highways and railway projects.
The MOU was signed by BVN Rao, Business Chairman, Urban-Infrastructure and Highways, GMR.Over the next 12 months, GMR and JBIC will work on identifying projects to attract Japanese investments.
The Japan Bank for International Cooperation (JBIC) intended to promote opportunities for Japanese companies to participate in infrastructure projects and also support them to lay a foundation in India.
About GMR Group
The GMR Group is engaged in the development of infrastucture projects in the public-private partnership mode.
GMR Group is one of the fastest growing infrastructure enterprises in the country with interests in Airports, Energy, Highways and Urban Infrastructure sectors.
GMR Infrastructure Limited is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects across the sectors. It undertakes the development of the infrastructure projects through its various subsidiaries.
The Group also has a global presence with infrastructure operating assets and projects in Turkey, Indonesia and Nepal.
Who: GMR Infrastructure
When: 2 September 2014