Source: Financial Express

NEW DELHI, DEC 25 : Global financial services major Citigroup is in talks with the government to start a $5-billion debt and equity infrastructure fund in partnership with Infrastructure Development Finance Company (IDFC).

Another US-based private equity firm, Blackstone, has also proposed a fund for infrastructure in India, the size of which is not known.

Citigroup has proposed a total fund of $5 billion, of which $2 billion are intended to be equity and $3 billion for debt, finance ministry joint secretary (infrastructure) Arvind Maya Ram said here. The fund by the company will be in association with IDFC, he said. Exact nature of approvals that the fund needs would depend on the structure of the fund.

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Posted by pichu at December 26, 2006 1:41 PM