GMR signs MoU with Japan Bank for International Cooperation

 During the state visit of Prime Minister Narendra Modi’s to Japan, GMR Infrastructure signed a MoU on 2nd September, with Japan Bank for International Cooperation (JBIC) for providing financial assistance to Japanese companies investing in infrastructure projects of GMR Group.
The objective of this MoU is to provide low-cost, long-duration financing for infrastructure development projects that involve Japanese companies in development of industrial parks, power, energy, ports, airports, highways and railway projects.
Through a framework of this MoU between JBIC and GMR, JBIC intends to promote opportunities for Japanese companies to participate in infrastructure projects. This will serve to improve infrastructure in India and support development of the necessary foundation for Japanese companies’ business activities in India. Over the next 12 months, GMR and JBIC will work on identifying projects to attract Japanese investments.
Speaking on the occasion, BVN Rao, Business Chairman – Urban ‎Infrastructure & Highways, who signed the MoU on behalf of GMR Infrastructure in Tokyo, said, “It is a landmark event and the first that any bilateral agency has made with a company in the private sector. It is a manifestation of the belief that an international agency like JBIC has in the delivery capabilities of the GMR Group.”
GMR Group is known for operating projects in the PPP mode in complex environments, adopting world-class technology, delivering projects well within time with a focus on operational efficiency. Investing in such projects can be very attractive to Japanese companies seeking to expand their manufacturing activities in the vast captive market of India as well as for those looking to create export oriented manufacturing facilities aimed at the growing markets of Africa.

17