Greater Noida February 7, 2014:- Looking for opportunities in India despite an economic slowdown, diversified Hinduja Group on Thursday said it would invest a billion dollars (about Rs 6,200 crore) across sectors like real estate and media.
“We are looking for various opportunities. Recession is the time when you can make opportunities to invest,” Hinduja Group India chairman AP Hinduja told reporters here on the sidelines of Auto India.
“We are looking at various sectors for investment which we are offered by various investment bankers. Very soon you would see that we may target few more investments,” he said. When asked about the amount of investments, he said: “Overall investment will be about a billion dollars.”
He did not share a timeframe for these investments. On sectors where the group plans to make these investments, he said it could cover real estate, health sector, media, power, and others.
The group already has presence in sectors such as banking and finance, transport, energy (oil and power) as well as technology, media and telecom.
Bullish on the long-term potential of India, Hinduja Group Global chairman GP Hinduja said the group is sticking with its plans for the country. “We are a long-term player. We do not see this downfall a permanent one. So we are sticking to our targets,” he said. On the group’s progress in the power sector, he said it is confident of meeting the target of 10,000 MW as its power plant at Vishakhapatnam is set for commissioning by the end of April or early May. “We went through lots of hardships but finally it is completed, and now there are three brown (field) projects which are in the pipeline, which we would be completing. Our target of 10,000 MW remains intact without scaling down,” he said. GP Hinduja further said: “Because of the recession we have been able to find ready-made projects which we call brown (field) projects, and three of them would be completed very soon.” – Financial Express
