Indian infrastructure development and finance company Infrastructure Leasing and Financial Services Limited (IL and FS) on Saturday signed agreements with two Chinese firms worth over USD one billion.
The two Chinese firms in question are the Industrial and Commercial Bank of China (ICBC) and state-owned power producer group Huadian.
"We have signed two agreements between IL and FS and ICBC. ICBC is the largest bank in China and it will fund our infrastructure projectswith one billion dollars. We have also signed an MoU with the Huadian group, the largest state owned power producer group, which will participate in our Nanolaser Power Project in Kutch," IL and FS Group CEO (financial services) Ramesh C Bawa told ANI.
Prime Minister Narendra Modi is currently in Shanghai, the final leg of his trip to China. In the evening, he is scheduled to depart for Ulan Bator.
