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Hindujas plan big for AP
Posted by Srini Uppala | January 27, 2008 | 358 views
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Loading ...The Hinduja Group on Sunday said it plans to invest $50 billion in power, realty, auto, healthcare and oil and gas projects in India, whose appetite for infrastructure funds is pegged at $492 billion over the next five years.
“We have made a blueprint of investment of $50 billion investment in India spread over 10 sectors in the next 4-5 years,” group’s global president G.P. Hinduja said here.
Mr Hinduja, who was here to participate in the World Economic Forum’s meeting, said: “In the power sector, the group is setting up a 2,400 MW capacity power plant at Visakhapatnam in Andhra Pradesh with super-critical technology, and proposes to invest Rs 10,000 crore to 15,000 crore.” He said the Hinduja Group has entered into a joint venture “with Nissan and proposes to set up a Light Commercial Vehicle (LCV) plant in the country.”
“We have identified two states — Tamil Nadu and Andhra Pradesh. Discussions are going on with both the states and location will be decided where the government offers better terms and conditions,” he said. “In the real estate sector, the group has plans to invest between $10 billion and $15 billion within the next 2-3 year period,” he said. Mr Hinduja added that the group has already acquired a land bank of over 3,500 acres in Mumbai, Hyderabad, Bangalore and Chennai.
SOURCES:
Deccan Chronicle
Topics: Govt In Action, Infrastructure |
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