Srei Equipment Finance has bagged a euro 10 million (about Rs 87 crore) loan from KfW IPEX-Bank to facilitate German exports to India.
The financing is backed by cover from Euler Hermes.
Through this arrangement, KfW IPEX-Bank will provide modern and energy-efficient construction machinery for use in Indian infrastructure projects. The financed machinery from a German construction machine manufacturer includes asphalt machines, road pavers and rollers, said a press statement issued by Srei.
SEFL managing director Devendra Kumar Vyas, said in the release: “At Srei, we 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,” he added.
With this financing, KfW IPEX-Bank is underscoring its pledge to support the German and European export industry, even in economically challenging time.