IEC Joins DSC for UMPP Projects

Israel Electric Company Limited, the monopoly Government ownership company in Israel for Power Generation and Distribution has joined hands with DS Constructions Limited, India for joint bidding in 7 Ultra Mega Power Projects (4000MW each) in India.

New Delhi, Delhi, December 14, 2006 /India PRwire/ -- DS Contructions has tied up with Israel's sole integrated electric utility Israel Electric Corporation (IEC) to bid for the ultra mega power projects in India. As per the announcements made today, the duo have qualified for the 4,000 mega watt Krishnapatnam Project in Andhra Pradesh and plan to bid for additional six ultra mega power projects in Orissa, Jharkhand, Akaltara in Chattisgarh, Girye in Maharashtra, Tadri in Karnataka, and Goa. The team from IEC including their Vice President Mr. Haim Barner is in India these days for the Site Visit of the Krishnapatnam project and additional discussions with regard to the project.

For the purpose of execution of projects, if awarded, the partners will create a special purpose vehicle in which the Indian company will hold a minimum of 26 per cent stake. ''With the Indian power sector opening up for international companies, we are looking forward to participating in the ultra mega power projects... we are confident that our partner's strong project execution capabilities coupled with our expertise and experience design, engineering and management will help in successful exection of these projects,' IEC Senior VP (Engineering Projects) Wittinig Silviu said. Israel Electric Corporation, which has 99.85 per cent equity participation from the State of Israel, is one of the largest Industrial companies in Israel.

AFII Corporate Advisors Limited, an Indian Corporate Advisory and Management Consulting firm has acted as Intermediary for this Joint Venture. Speaking to a correspondent, Dr. Mahesh Gandhi, Managing Director of AFII, said that AFII is actively looking for promising projects seeking investments in Energy and Real Estate sector in India. AFII will channel and bring in FDI of over USD2Bn. to India in these two sectors over the next one year.

Notes to Editor

AFII was established as ‘Arbeiten Für India Inc.” in June 1996 to manage Indian investment portfolios of its US-German parents. With a professional management at its heist it began offering Project Finance syndication services to Indian corporates. Arbeiten also engaged itself in Trade Finance syndications including offshore structures for assisting Indian companies with working capital when doing business abroad. Chief Executive of Arbeiten during this period was Mr. Alfrado Schmidt based out of Germany. Indian operations were being looked after by a team of Senior Finance Professionals based at New Delhi.

Arbeiten was revamped as a Structured Finance firm focusing on Project & Trade Structured Finance in October 2001 when Dr. Mahesh Gandhi took over the Indian operations of the firm.Dr. Gandhi holds a Doctorate in Corporate Finance and is also a Chartered Accountant with over 15 years of experience in Business Advisory Services.He got AFIIengagedin interesting Infrastructure Finance Syndications and offshore Trade Finance structured solutions. It also concluded some interesting Aviation transactions including arranging finance for Business Jets, assisting in Airport Acquisition and also advising a client on financial due diligence in the process of bidding for the Delhi-Mumbai Airport PrivatisationProjects in India.

Arbeiten was Corporatised in January 2006 as AFII Corporate Advisors Limited – functional areas being – Infrastructure and Real Estate Projects Advisory and Finance, Trade Finance & International Services including M & A Advisory and Global Corporate Finance.

AFII was appointed by State Bank of India (India's largest Bank with over 9000 Branches)in January 2006 as National facilitation agency for Channel Financing. Itnow manages a Pan India operation with some of the largest Industry Majors as its clients.

AFII has grown from a small 6 member team in 2001 to a 31 member team with Senior Professionals directing and looking after their respective divisions of Projects, International Services and Trade Finance.

AFII continues the growth strain and I am hopeful of concluding useful relationships for further development of our M & A Practice and Risk Management business. These relationships will make it possible for AFII to provide more intensive services package to its existing clientele and also develop fresh clientele leveraging new knowledge and competencies.

AFII has been certified by BSI (British Standards Institute) for ISO9001:2000 as India's first Financial and Business Advisory firm to be so accredited. It is now in the process of achieving Gold Benchmark from BSI for quality services and processes in business.

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