Italian export-credit agency SACE opens Mumbai office
(ANSA) - New Delhi, November 30 - Italy's export-credit agency SACE has opened an office in the Indian economic capital Mumbai, the financial and insurance group said on Friday. The office is to act as a hub for the South Asian markets of India, Bangladesh and Pakistan. SACE currently has an exposure of around one billion euros on the Indian market. "SACE has been actively engaged with Indian companies for many years," said CEO Raoul Ascari. "We have established a very large pipeline with major Indian companies".
The SACE chief added that the company was currently looking at "transactions worth a couple of billion euros, in a quite broad range of sectors, ranging from automotive, to refineries, petrochemicals and small and medium enterprises (SMEs).
We are very excited about the potential of the Indian manufacturing and automotive sectors, and also renewable energy.
India accounted for almost 80% of the new commitments made by SACE in Asia in 2011. This year the company has invested 166 million euros as of September.
Last year SACE finalized a partnership with BNL-BNP Paribas Group to create a 100 million initial credit facility to finance export and investment projects of Italian companies in India.
We are very excited about the potential of the Indian manufacturing and automotive sectors, and also renewable energy.
India accounted for almost 80% of the new commitments made by SACE in Asia in 2011. This year the company has invested 166 million euros as of September.
Last year SACE finalized a partnership with BNL-BNP Paribas Group to create a 100 million initial credit facility to finance export and investment projects of Italian companies in India.