12 Apr 2007
IIFCL and 3i announce strategic partnership on infrastructure financing in India
- Infrastructure
IIFCL was incorporated in January 2006 as a wholly Government owned company for the purpose of providing financial support to infrastructure projects and facilities in India.
The Indian government believes that the total requirement for infrastructure funding could be as much as $320bn over the next five years. Investments arising from this partnership will primarily be in power, ports, logistics, airports and road projects in both early stage and mature infrastructure operations.
The agreement was signed by Mr. S S Kohli, Chairman and Managing Director IIFCL, and Mr. Chris Rowlands, 3i’s Managing Partner in Asia, in the presence of Mr. P Chidambaram, the Finance Minister of the Government of India.
On the occasion, Mr. Kohli said “Keeping in view the huge requirement of funds in the sector, the collaborative arrangement between IIFCL and 3i would give a strong push for funding of infrastructure projects.”
Commenting on the partnership, Mr. Rowlands said “We are excited by the opportunity to participate in the development of infrastructure projects in India, which are critical for sustaining the country’s growth. We are proud to be associated with IIFCL given their strong infrastructure financing franchise in the country.”
Notes to editors
3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital, Venture Capital and Infrastructure and invest across Europe, the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders.
3i has been investing in infrastructure businesses for over 20 years and has recently raised £700m for a listed infrastructure company, 3i Infrastructure Limited. 3i’s track record in infrastructure includes investments in Anglian Water, the fourth largest water supply and waste water company in England and Wales; an interest in Infrastructure Investors LP, one of the largest UK equity funds investing in secondary PFI projects; and investments in two other PFI projects, one being a hospital in Norwich and the other a series of schools in Scotland.
For further information please contact:
Kathryn van der Kroft
email. kathryn.vanderkroft@3i.com
tel. +44 207 975 3021
