KfW IPEX-Bank offers loan of 10 mn euros to Srei Equipment Finance

With the successful close of an export financing transaction, KfW IPEX-Bank is enabling the export of construction machinery for Srei Equipment Finance Limited (SEFL) to India by providing a framework loan of 10 million euros, Srei said in a statement. The financing is backed by cover from Euler Hermes. Through this commitment, KfW IPEX-Bank is helping to provide construction machinery for use in Indian infrastructure projects. The financed machinery from a German construction machine manufacturer includes asphalt machines, road pavers and rollers.

"We at Srei have always believed in creating an equipment life cycle solution for our customers and in that endeavour, manufacturer partnerships become crucial. This initiative will help our German and European manufacturing partners to benefit from our strong customer connect in addition to our agile risk understanding in credit buying. We look forward to more such programmes in the future," said Devendra Kumar Vyas, managing director, SEFL.

The borrower, SEFL, was set up in 2008 to pool orders from individual Indian construction companies and make the newly ordered machines available to the respective users.