Gurgaon, July 18: World Bank and Government of Netherlands funded infrastructure equipment bank 'Quipo' launched its first hub in the country in Gurgaon and said two more were coming up in Mumbai and Hyderabad this year. Inaugurating the hub, National Highway Authority of India chairman Santosh Nautiyal said Quipo would reduce the capital burden on the contractors by meeting the long felt need of the industry that spent a huge amount on importing them.
Nautiyal said market capital would increase as the contractors can now take these high cost equipment on rent rather than buy them using foreign exchange.

The Golden Quadrilateral project, where Quipo has provided valuable service, would be completed within the target period and there is no cause for delay in the mega project, Nautiyal added.
"Quipo' is part of the SREI group that holds 52 per cent of the stake in the Rs 50 crore company while the World Bank arm International Finace Corporation and the Government of Netherlands have 20 per cent each; the rest is distributed among several foreign investors, said Sunil Kanoria, Chairman and Managaing Director of the company. Bureau Report