By Sumit Sharma

July 1 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank, plans to raise an additional $400 million for investments in India with Infrastructure Development Finance Co. Ltd., said Sanjay Nayar, chief executive for the firm's Indian operations.

Citigroup and Infrastructure Development, a Mumbai-based financing company, have already raised $525 million for a fund that will invest in roads, ports, power plants and other utilities in India, Nayar told reporters in Mumbai.

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Posted by boyang at July 1, 2008 1:07 PM