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SBI, Macquarie to invest $1 bn in ports, power

SBI, Macquarie to invest $1 bn in ports, power
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First Published: Mon, Apr 06 2009. 10 08 PM IST
Updated: Mon, Apr 06 2009. 10 08 PM IST
Mumbai: India’s largest lender State Bank of India and Macquarie Group Ltd, Australia’s biggest investment bank, have raised $1 billion (around Rs5,000 crore) to invest in ports and power plants in the South Asian nation.
The Macquarie-SBI Infrastructure Fund joint venture will continue to raise capital this year, which could take the total funds to as much as $3 billion, State Bank said in a statement to the Bombay Stock Exchange on Monday. State Bank and Macquarie said in April 2008 they planned to raise $2 billion for the fund.
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First Published: Mon, Apr 06 2009. 10 08 PM IST