|By Marketwired .||
|April 2, 2014 12:00 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 04/01/14 -- Export Development Canada (EDC), Canada's leading financier and insurer of Canadian exporting companies, today announced USD 500 M in financing for Reliance Industries Limited (RIL), the Indian multi-sector conglomerate.
The transaction is among the largest financing packages that EDC has ever extended in Asia. RIL is a Fortune Global 500 company and is the largest private-sector company in India.
"We have been partnering with a wide section of Canadian suppliers for materials, equipment and services across our hydrocarbon businesses over the last 4-5 years and we are also engaging with them for our telecom business rollout," said Srikanth Venkatachari, Reliance's Joint Chief Financial Officer. "We have more than a decade-long relationship with EDC, and this landmark deal will provide further impetus to foster trade between RIL and Canadian companies over the coming years."
EDC provided the financing in response to the increasing business that RIL has been undertaking with Canadian companies since 2004, when EDC first became one of their financiers. The new financing package helps diversify RIL's funding sources and extends the maturity profile of its long- term debt in a cost effective manner.
"RIL is a global leader in many sectors that match up well with Canadian industrial expertise, creating a natural partnership that benefits both of our priority interests," said Rajesh Sharma, EDC's Senior Vice-President and Group Head, Global Business Development.
"A strong relationship with EDC helps the RIL Group benefit from a global source of mature and dependable financing in a capital-constrained global economy," added Mr. Sharma. "In turn, EDC introduces Canadian companies to RIL that not only meet their specific supply chain needs, but that can help them grow their global business. Everybody wins in this deal."
Since 2010, RIL has been regularly doing business with approximately 50 Canadian companies. Of these companies, 33% were small- to medium-sized companies. EDC has been actively engaged with RIL for making introductions to Canadian capabilities.
Industries of note for RIL are oil and gas exploration/production, refining and petrochemicals that are part of its energy business. The telecom and organized retail sectors are part of their consumer facing business in India.
India is a strategic market for Canada, as outlined in the Government's Global Market Action Plan, and is also a market of corporate priority for EDC. EDC is looking to grow the amount of financing that it offers to Indian companies for their capital expenditures, whether the financing be for general corporate purposes or project finance purposes.
Canadian and Indian companies used EDC's financial services to undertake CAD 1.8 billion of business in 2013 alone.
EDC is Canada's export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public-sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.
For more information about how EDC can help your company, visit www.edc.ca.
Export Development Canada
[email protected] (preferred and quickest response)
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 26, 2016 06:45 AM EDT Reads: 1,001
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
May. 26, 2016 06:45 AM EDT Reads: 2,882
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
May. 26, 2016 06:30 AM EDT Reads: 2,819
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
May. 26, 2016 06:30 AM EDT Reads: 2,652
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
May. 26, 2016 06:15 AM EDT Reads: 1,683
SYS-CON Events announced today Object Management Group® has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
May. 26, 2016 06:15 AM EDT Reads: 2,272
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
May. 26, 2016 06:00 AM EDT Reads: 1,115
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
May. 26, 2016 05:45 AM EDT Reads: 2,627
SYS-CON Events announced today that MobiDev will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobile software company with over 200 develope...
May. 26, 2016 05:15 AM EDT Reads: 2,405
SYS-CON Events announced today that Isomorphic Software will exhibit at SYS-CON's [email protected] at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, high-productivity enterprise web applications for any device. SmartClient couples the industry’s broadest, deepest UI component set with a java server framework to deliver an end-...
May. 26, 2016 05:15 AM EDT Reads: 1,936
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
May. 26, 2016 05:00 AM EDT Reads: 1,984
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 26, 2016 05:00 AM EDT Reads: 2,461
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
May. 26, 2016 04:30 AM EDT Reads: 3,083
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
May. 26, 2016 04:30 AM EDT Reads: 1,845
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
May. 26, 2016 04:00 AM EDT Reads: 1,915