FMO, the Netherlands-based development finance company plans to invest over euro 100 million by the end of 2003, atop company official said on Monday.
The full form of FMO is Nederlandse Financeierings-Maatschappij Voor Ontwikkelingslanden NV.
"We have ambitious plans to invest substantially in the Indian telecom, paper manufacturing and financial sector in the coming months," Geert van de Guchte, investment officer-Asia, FMO, told reporters in Chennai on Monday.
The company's current investment in India was around euro 65-70 million including $10 million in Bharati Televentures, he said.
Guchte is visiting Chennai in connection with FMO signing an agreement with the Shriram group for extending a five-year loan of euro six million each to Shriram Investments Ltd and Shriram Transport Finance Company Ltd.
FMO was also working out plans to have around 10 per cent equity in both SIL and STL, subject to Reserve Bank of India clearances.
R Thyagarajan, chairman of the Shriram group, who was also present, said the FMO loan would be utilised for financing purchase of used trucks.
