India’s top bank here on fact-finding mission
India’s topmost investment bank and the only Indian bank featured in Fortune Global 500, SBI Capital Markets, says it is bullish on Sri Lanka’s postwar infrastructure.
“We are a tried and tested global player in infrastructure development. We usually aim at mega scale projects above $ 25 Mn. We believe that collaboration on PPP in large scale infrastructure projects in Sri Lanka can be significant win-win for both. We are not investing by ourselves but have the capacity to bring in global investors,” revealed V.G. Kannan, President & Chief Operating Officer of SBI Capital Markets (SBICM), India during the meeting with Industry and Commerce Minister Rishad Bathiudeen yesterday.
Kannan, is on a two-day SBI fact-finding mission to Colombo.
SBICM is a 100% owned entity of State Bank of India (SBI), the largest commercial bank in India. The government of India owns 61% of SBI. SBICM, a Thompson Reuters ‘Bank of the Year’ award winner, specialises in mergers and acquisitions (M&A) as well as mega scale project financing.
“We believe that collaboration on PPP in large scale infrastructure projects in Sri Lanka can be significant win-win for both. As a start, we are planning to host a high level confab with regard to PPP on the infrastructure projects next March in Colombo in association with EuroMoney and Merchant Bank of Sri Lanka (MBSL). We believe that a defined, sector-wise PPP investment framework by Sri Lanka will help the country to garner higher PPP financing as well as increased investor confidence.
“Both Sri Lanka's North South and East West corridors have high investment appeal. We also believe that there is much more scope to engage private sector in Sri Lanka's large scale infrastructure projects” revealed Kannan.