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Exim Bank in talks with SEZ units

Exim Bank in talks with SEZ units
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First Published: Sun, May 13 2007. 01 20 PM IST
Updated: Sun, May 13 2007. 01 20 PM IST
PTI
Mumbai: The Export-Import (Exim) Bank of India, which has funded units in export processing zones, is looking at funding units being set up in special economic zones (SEZs).
The Exim Bank, which has sizable exposure to small and medium enterprises (SMEs), is in talks with at least six companies, which are setting up units in Mahindra City in Chennai and the Indore SEZ in Madhya Pradesh.
These are the two multi-product SEZs, which have already taken off.
“We are in discussions with at least half-a-dozen companies in Chennai and Indore SEZs,” Exim Bank Chairman and Managing Director TC Venkat Subramanian told PTI.
The total loan amount would be between Rs150 crore and Rs200 crore.
The government has cleared 257 SEZ proposals, but not many have takenoff as they are in various stages of implementation. Exim Bank may fund more units as SEZ clearances come by.
However, Subramanian said, Exim Bank would not be getting into funding of infrastructure and real estate in SEZs.
Earlier, Exim Bank had lent to Pipavav and Adhani ports. At Pipavav, it has equity stake of less than 5%.
“We pick up stakes in export-oriented units. In a few cases, we have picked up stakes in the overseas ventures, too,” as a moral booster to the Indian companies, he said.
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First Published: Sun, May 13 2007. 01 20 PM IST
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