The Hindu Business Line : German bank DEG plans to invest €100 m

DEG, the German development bank, has plans to invest €100 million in the current fiscal for projects in India. It aims to invest in at least seven projects, said Mr Josef Schnepper, Vice-President (German Corporates), DEG.

He is a member of a delegation from the North Rhine-Westphalia region of Germany, which is touring India for investment opportunities.

“Till date, the total investment portfolio of the bank in India is to the tune of €320 million in 32 companies. Traditionally, DEG has been investing in Indian companies having German links. Now, we are looking for good Indian companies, who may not necessarily have German links. If we see good opportunity in Indian companies, we will invest. India is now a major investment destination,” Mr Schnepper said.

He said that DEG is open to investments in areas such as agriculture, mining, manufacturing, IT, service industry, real estate and energy.

In January, DEG had provided for €14 million long-term loan to the Chennai Water Desalination Ltd for its upcoming seawater desalination plant.

Mr Schnepper said that the bank usually invests in mid-size companies. Minimum investment by German standards is €3-5 million, which at times small and mid-size Indian companies cannot afford, therefore, the investment is channelled through Indian banks.

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