Financial Daily from THE HINDU group of publications
Monday, Jun 05, 2006
Financial Daily from THE HINDU group of publications Monday, Jun 05, 2006 |
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Money & Banking
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Public Sector Banks Industry & Economy - Infrastructure States - Andhra Pradesh BoI to lend Rs 200 cr to Kakinada SEZ Our Bureau
Visakhapatnam , June 4 Lending to special economic zones and infrastructure projects in the country is one of the thrust areas of the Bank of India and it is lending Rs 200 crore to the SEZ coming up at Kakinada, according to Mr P.R. Kalyana Raman, the General Manager in charge of the southern region. At a press meet here on Sunday, he said the bank had already lent Rs 100 crore to the SEZ for land acquisition and it was ready to lend Rs 100 crore more. "Our total exposure will be Rs 200 crore as far as the Kakinada SEZ is concerned," he said. He further said the bank would lend to the Kakinada Seaports Ltd for developing the deep water port. He said preliminary negotiations had been completed. The bank would open a branch in the proposed SEZ, he said. Mr Kalyana Raman said the bank, currently celebrating its centenary, would adopt 101 villages during the year and four or five of them would be chosen from Andhra Pradesh. He said the bank, predominantly a north-based one, would like to increase its presence in the south too and 20-25 branches may be set up during the current year.
More Stories on : Public Sector Banks | Infrastructure | Andhra Pradesh
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