Srei International sets up subsidiary in Germany

Kolkata: SREI International Finance Ltd (Srei), has set up a 100 per cent subsidiary in Germany - International Infrastructure Services GmbH (IIS).

The other international stakeholders in Srei are International Finance Corporation, Washington, and FMO, owned by the Netherlands Government.

The managing director Hemant Kanoria said that the Belgian government, through Belgium Investment Overseas (BIO), had also participated in the mezzanine capital of the company. He said Srei's current business model was designed to participate comfortably in international lease-financing transactions. He also said the company had been scouting Europe, particularly East Europe, UK, Germany and the CIS countries, for setting up an overseas outfit.

Kanoria said the company also had plans to spread operations to the UK and the CIS countries at a later stage.