GE Strengthens Commitment to Infrastructure Financing in India.Invests US$ 22 million in Oriental Structural Engineers Private Limited NEW DELHI New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. , India -- GE Commercial Finance today announced that it has invested US$22 Million in Oriental Structural Engineers Private Limited (OSE OSE - Open Systems Environment ), one of India's leading infrastructure construction companies. Representing a major growth focus for the company, GE Commercial Finance launched its India Infrastructure Finance Imagination Breakthrough initiative earlier this year in support of the country's commitment to invest US$350 billion in infrastructure projects over the next 5 years. "We are pleased to partner in OSE's growth and further our commitment to infrastructure development in India. This is a strategic investment for GE and is indicative of our commitment to play a substantial role in this space," said Vicky Bindra, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , GE Commercial Finance India. "GE's Innovation Breakthroughs represent some of the most significant growth opportunities for the company and we are committed to pursuing more opportunities in this area," further added Vicky Bindra. "We sincerely appreciate GE's partnership and its commitment to extending our growth capacity," said Kanwaljit Singh Bakshi, Managing Director, OSE. "We will benefit considerably from GE's proven expertise in both the infrastructure and financing sectors to help us achieve our goal to become a world-class infrastructure company." Established in 1972, OSE has considerable expertise in the construction of major roads, highways, and airport runways with plans to expand to railway development in the near future. The company has completed 106 infrastructure projects in India and was recently selected for three BOT projects by the National Highways Authority of India The National Highways Authority of India (NHAI) is the national authority for the management of a network of over 60,000 km of National Highways in India[1]. The Authority is a part of the Ministry of Shipping, Road Transport and Highways. . About GE Commercial Finance GE Commercial Finance (www.gecommercialfinance.com) offers businesses around the globe an extensive array of financial products and services. With more than US$246 billion in assets and expertise in the middle-market, GE Commercial Finance provides loans, operating leases Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. , financing programs and innovative structured capital to help customers grow. Headquartered in Norwalk, Connecticut, GE Commercial Finance is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the General Electric Company (NYSE NYSE See: New York Stock Exchange :GE), a diversified diversified (di·verˑ·s services, technology and manufacturing company with operations worldwide. About Oriental Structural Engineers Private Limited Oriental Structural Engineers (OSE) (www.orientalindia.com) is engaged in the business of construction of Highways & Expressways, Runways & Airfields and Urban Civil Infrastructure. Part of Bakshi Enterprises, a Delhi-based industrial group with an annual turnover of US$ 300 million, OSE has been in this field for well over three decades. OSE's recent forays include BOT ventures and commercial mining, quarrying quarrying, open, or surface, excavation of rock used for various purposes, including construction, ornamentation, road building, and as an industrial raw material. Rock that has been quarried is commonly called stone. & crushing operations. OSE is also gearing up to undertake construction of Multi-storied Buildings and construction of Railway projects. Completing the projects ahead of schedule has been the hallmark of OSE, earning bonus on early completions. |
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