Export Development Canada (EDC) is investing $50 million, its largest single equity investment to date, in a proposed $1 billion infrastructure fund in India to provide Canadian companies with new opportunities to participate in major projects i n the booming Asian market.
EDC is Canada's export credit agency, which provides financing and risk management services to exporters and investors. The IDFC-sponsored India Infrastructure Fund will invest in infrastructure projects involving energy and utilities, transportation, t elecommunications and social infrastructure in India and will be managed by IDFC Project Equity Company Ltd.
“IDFC has a solid track record of project finance and private equity experience in infrastructure in India, and is well positioned to become an important partner for Canadian exporters in this priority market,'' said Eric Siegel, President and CEO of EDC .
*India's strong economic growth and government initiatives to channel more private capital into all sectors are expected to lead to massive infrastructure growth,'' he said. – PTI
Source: Business Line