Financial Daily from THE HINDU group of publications
Thursday, Sep 16, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 16, 2004 |
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Money & Banking
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Financial Institutions SREI changes name to reflect focus on infrastructure Our Bureau
Mumbai , Sept. 15 SREI Infrastructure Finance Ltd is targeting disbursements of about Rs 2,000 crore for fiscal 2004-05 against Rs 1,253.31 crore in the past fiscal. Of these disbursals, about Rs 50 crore will be for equipment financing for solar energy projects, against about Rs 10 crore in the last fiscal, said Mr Hemant Kanoria, Vice Chairman and Managing Director of the company. Mr Kanoria said the company planned to focus on power and road sector projects this year. Solar energy projects will also be a major thrust area in the renewable energy projects. He said the company aims a growth rate of 30 per cent in profits this fiscal similar to the growth last year. Mr Kanoria said the company had approached the RBI for allowing infrastructure funding by external commercial borrowings (ECBs) as it was considering overseas funding by way of ECBs to meet part of its financing targets of Rs 1,500 crore for this fiscal. Mr Kanoria was speaking on the sidelines of a press conference to announce the change in name of the company. SREI International Finance Ltd has been changed to SREI Infrastructure Finance Ltd so that the nomenclature focussed on the core area of its business.
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