IDFC enters into MOU with BoI & UBI

Infrastructure Development Finance Company Ltd (IDFC) has announced that the Company, Bank of India (BoI) and Union Bank of India (UBI) on November 08, 2006 have entered into a Memorandum of Understanding (MOU) for financing of infrastructure projects.

The MOU enables the Company, BoI and UBI to capitalize on their respective strengths to co-operate in debt financing for the infrastructure sector to enable efficient capital raising for infrastructure Companies and quicker financial closure for large infrastructure projects.

As part of the MOU, all the panics will co-operate to facilitate joint identification, marketing, appraisal and underwriting of project finance which will provide a wide range of financial products for infrastructure projects.

Source : Equity Bulls

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