Indian company forays into SL’s infrastructure market
An Indian non-banking institution, SREI engaged in high end infrastructure development is looking to enter the Sri Lankan market initially for consultancy and advisory services.
The Srei Infrastructure Finance Limited is looking at providing consultancy and advisory services but would focus on development projects particularly an IT park, roads, transportation and capacity building in the IT sector, the company’s CEO Dr. R. Mandal told the Business Times on the sidelines of a media briefing held in Colombo on Wednesday.
The organisation has entered the country in collaboration with Arinma Holdings, a company established in 2008 involved in working with international business partners and providing a range of services and technology to the Sri Lanka market.
He said that since the government was not responsive towards its engagement in the healthcare sector this was on hold for now. He pointed out that their interests were also in identifying more areas for enhancements in the booming tourism industry in the country.
Dr. Mandal observed that they would look to bring in international structures like theme parks and other hospitality related innovations to the sector.
SREI said they were also interested in the local power and energy sector and specifically the coal power projects.
SREI CEO pointed out that with coal power in India and Indonesia now tiring out most countries would be interested in their neighbouring nations.
In this respect, the company has had preliminary discussions on the provision of coal power generation in Sri Lanka with local authorities.
A media release issued states that SREI is a pioneer in infrastructure financing in India and Dr. Mandal observed they were providing advisory services for projects like the Ganga Expressway.
With experience in a number of fields in infrastructure equipment financing; infrastructure project financing; insurance broking, investment banking, project development; venture capital and fund management; and telecom, transportation, power, rural IT infrastructure. They also work with Quippo Rentals a rental company servicing the construction, oil and gas, energy, auctioneers and valuers.
The company has also entered into a 50:50 joint venture with BNP Paribas Lease Group, a wholly owned subsidiary of the globally reputed BNP Paribas.
Arinma Holdings, the media release said is a diversified group with a presence in West Africa, Israel, India and East Asia, its business interests are in renewable energy, mining, heavy machinery, and equipment supply, project development ad consumer products.
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