Financial Daily from THE HINDU group of publications
Friday, Aug 09, 2002
Alliances & Joint Ventures
Industry & Economy - Infrastructure
Promotion of SEZs, industrial parks Srei Capital in pact with Singapore consultant
KOLKATA, Aug. 8
SREI Capital Markets Ltd, the wholly-owned subsidiary of Srei International Finance, has signed a memorandum of understanding (MoU) with Jurong Consultants Pte Ltd (JCPL), a subsidiary of JTC Corporation, Singapore.
The MoU envisages collaboration between the two companies to promote and be associated in conceptualisation, design, development, construction and maintenance of special economic zones (SEZs), industrial parks, townships and related infrastructure projects in the country through various action plans identified jointly by JCPL and Srei Capital.
Talking to Business Line, Mr J.L. Mukherjee, Executive Director, SREI Capital, said the strategic alliance assumed significance, "considering Srei's exposure to core infrastructure development in India, with increasing focus on financing of infrastructure projects, as well as providing financial consultancy and advisory services to such projects''.
He said the consultancy services to be provided by JCPL for projects and/or services jointly undertaken would be in areas such as strategic planning and potential analysis, feasibility studies, planning and submission, design and documentation, tendering process and construction management.
The Singapore company's expertise in the above areas, he pointed out, had been built up on 30 years' experience in industrial facilities, with projects in China, the Philippines, Thailand, Indonesia, Malaysia, Vietnam and Africa.
He described JCPL as a large industrial developer, managing industrial estates housing some 7,000 companies in Singapore. The company, he said, had already set up two SEZs in China, and any such projects in India would ideally be following the China model, he pointed out.
He said as per the current policies of the Indian Government, creation of SEZs in various parts of the country had been accorded a high degree of importance.
Designed as self-contained units, with their own mini townships, SEZs are supposed to set up their own roads, power generation, telecom and shipping facilities.
The alliance, he clarified, would help Srei Capital to avail of a comprehensive range of consultancy services offered by JCPL.
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