INDIA BUSINESS WORLD - OCTOBER 21^st - NOVEMBER 15^th - 2007

GULF INVESTORS RAISE $630 M FOR INDIA ENERGY CITY

Gulf investors have raised more than $630 million to fund the infrastructure development of Energy City in India. This is the most successful equity raising by the project's promoter Bahrain-based Gulf Finance House which is now looking at further investment opportunities in India. "The success of the exercise to raise equity for Energy City India underscores the strong appetite of our clients for opportunities in India as well as the success of our Energy City Qatar project," GFH chairman Esam Janahi said. Janahi said the issue was oversubscribed by almost 60%. The equity issue was underwritten by Kuwait Investment Company.