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Leading equipment financing Srei Infrastructure Finance has formed a 50:50 joint venture with BNP Paribas Lease Group (BPLG), the leasing arm of BNP Paribas. The current infrastructure equipment (asset finance) business of SREI along with its insurance broking activity will be transferred to this JV, which will have an initial net worth of Rs 800 crore (146 million euros).

The partnership with BPLG is expected to help the JV in lowering its cost of funds for the asset finance business, besides combining the SREI brand and the local expertise of SREI with the specialised equipment finance skills and global brand strength of BPLG, a release said.

Hemant Kanoria, Vice Chairman and Managing Director of SREI, said: "We are the largest player in the financing of infrastructure equipment and collaborating with BPLG will help in increasing our market share further and also expanding the product line into financing of agriculture, information technology, medical and other equipment."

Fr