Investing.com - Financial Markets Worldwide
🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

India's Tata to get up to $500 mln a year in Canadian financing

Published 2015-11-04, 06:30 a/m
© Reuters. India's Tata to get up to $500 mln a year in Canadian financing
IHTL
-
TTCH
-
TATA
-
TACN
-
TTPW
-
TISC
-

OTTAWA, Nov 4 (Reuters) - Canada will provide up to $500
million a year in trade financing to help India's Tata Sons Ltd
TATAS.UL invest in Canada and also to aid Canadian firms doing
business with the company abroad, Ottawa said on Wednesday.
The trade financing agency Export Development Canada (EDC)
said Tata companies had invested more than C$1.3 billion ($990
million) in Canadian operations over the last five years. Tata
employs around 3,000 people in Canada.
"The Tata group is a critical organisation within a key
market for Canada - India - and the financing is a reflection of
Tata's importance to Canadian exporters," EDC chief executive
Benoit Daignault said in a statement.
An EDC spokesman said the agency would decide on a yearly
basis whether to renew the financing facility.
The Tata family includes Tata Communications Ltd TATA.NS ,
Tata Chemicals Ltd TTCH.NS , Tata Steel Ltd TISC.NS , Tata
Global beverages Ltd TAGL.NS , Tata Power Company Ltd TTPW.NS
and Indian Hotels Company Ltd IHTL.NS .
($1=$1.31 Canadian)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.