Financial Daily from THE HINDU group of publications
Saturday, Aug 28, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 28, 2004 |
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Corporate
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Announcements Sicom keen on funding agro-infrastructure projects in Maharashtra Our Bureau
Pune , Aug. 27 SICOM Ltd, a public finance institution of the Government of Maharashtra, is all set to catalyse the State's potential in agro-based industries. The company will also over the next few months evolve a business plan, which will see it venturing into areas like new-age entertainment and media and educational institutions. The company is right now in talks with Nabard to discuss the possibility of entering into sectoral funding based on refinancing in the agro-infrastructure field, Mr V.K. Jairath, Managing Director, told reporters here. "We already have huge expertise in developing infrastructure in backward and rural areas and want to leverage this expertise to explore the possibility of increasing our exposure in agri-infrastructure. Municipal bodies and others like APMCs can take up projects like modernisation of market yards and setting up infrastructure like cold storages through funding from us," he said. Sicom has also been receiving enquiries from educational institutions which are looking for funds for their expansion projects, according to Mr Jairath who added that with a number of educational institutions now dotting various parts of the State, this could make a viable business avenue for Sicom. "We are also looking at the interesting developments in new-age entertainment and media like multiplexes which are coming up rapidly and will evolve ways to tap this opportunity too," he said. Sicomis currentlygathering feed-back from business leaders from various cities in the State on the requirements of industry in the State. By extending fund and non-fund based products based on the needs of the customers, the company is right now refocusing its activities with a thrust on auto ancillaries, pharma, textiles, agro and food processing and chemicals among others. Also on the anvil are plans to leverage its expertise in infrastructure to catalyse growth in this sector mainly for roads and bridges, small urban infrastructure projects like water and sanitation, Mr Jairath said. The company will also leverage its vast expertise to offer a range of services to SMEs that will include project feasibility studies, structuring and arranging finance both debt and equity to achieve financial closure, liaison with government and semi-government organisations, mergers and acquisitions and merchant banking, he said.
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