GRM signed memorandum to provide financial assistance
During Prime Minister Narendra Modi’s visit to Japan, GMR Infrastructure signed a memorandum of understanding to provide financial assistance to Japanese companies investing in infrastructure projects of the GMR Group.
According to a statement, the objective of this MoU is to provide low-cost, long-term financing for infrastructure projects that involve Japanese companies. These could be for the development of industrial parks, power, energy, ports, airports, highways and railway projects.
The Japan Bank for International Cooperation (JBIC), through this association, intends to promote opportunities for Japanese companies to participate in infrastructure projects and also support them to lay a foundation in India. Over the next 12 months, GMR and JBIC will work on identifying projects to attract Japanese investments.
The Prime Minister’s visit to Japan has helped the India as because it has helped them gain investments from several Japanese companies. This will be acting as a positive step towards the development of many industrial parks and several other projects.
GRM infrastructure has signed a memorandum that they will be providing assistance to Japanese companies while looking forward to development in projects of GRM group.
Source: The Hindu Business Line
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