India's New Shipping Finance Unit Aims to Raise $467 Million
Indian lender Sagarmala Finance Corp. is in talks with banks to raise up to 40 billion rupees ($467 million) to support the shipping sector, its managing director said Thursday.
The industry is staring at a funding vacuum, Dilip Kumar Gupta said on the sidelines of an industry event in Delhi. 'We needed a government entity that will support only this sector as its funding needs are huge.'
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