Comments
Export-Import Bank of India (Exim India) has extended a $500 million line-of-credit (LoC) to SBM (Mauritius) Infrastructure Company Ltd.
This LoC has been extended for the purpose of financing its participation through Redeemable Preference Shares in public sector entities to implement infrastructure of other projects in Mauritius.
This LoC was signed in the Capital on Saturday in the presence of Pravind Jugnauth, Prime Minister of Mauritius and other top dignitaries from India and Mauritius. David Rasquinha, Managing Director, signed the LoC on behalf of Exim India.
This $500 million credit is Exim India’s first LOC to the SBM, Mauritius. Exim India had earlier extended four Lines of Credit to the Government of Mauritius aggregating $164.80 million, taking the total value of LOCs extended to Mauritius at $664.80 million.
Projects covered under the LOCs extended to Mauritius include the supply of specialised equipment and vehicles including offshore patrol vessel and waterjet fast attack craft.
India’s main exports to Mauritius consist of mineral fuel waxes, petroleum products, articles of apparel and clothing accessories and cereals. On the other hand, India’s imports from Mauritius consists of iron and steel, optical, photographic cinematographic, medical or surgical instruments, aluminium and articles.
Srivats.kr@thehindu.co.in
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.