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Non-Tech : ICICI Ltd - (Nyse: IC) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (99)	2/10/2000 1:26:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 494

ICICI earmarks Rs120 bn ($2.8 billion) for infrastructure 10-02-2000 10:15:57 IndiaInfoline ICICI, a leading lender for infrastructure projects in the country has committed itself to earmark Rs120 billion ($2.8 billion) for various infrastructure projects in the current fiscal. According to ICICI's MD and CEO, Mr.K.V.Kamath, road projects like Mumbai-Pune expressway should encourage the FIs in committing more funds for such projects. In a joint venture with Kalyani group, ICICI has involved itself in major road projects including the Hubli-Dharwad Bypass Project with investment of around Rs750mn. It has also involved itself in financing the Rs340mn bridge project in Maharashtra and Rs1.4bn flyover project with an innovative mezzanine financing structure. The lending for the infrastructure projects constitutes one-third of total assets of ICICI. The infrastructure lending amounted to 29% of total approvals and 22% of total disbursals of the company during 1998-99. In the area of power projects, ICICI has clarified that the company will lend to power projects provided the electricity boards commit themselves to maintaining financial discipline.