The Hinduja Group, a US$25 billion conglomerate led by the Hinduja brothers based in the UK, is deep into drafting plans to invite Gulf investors. The investor targets include the UAE sovereign wealth funds to form partnerships for power and other projects located in India.
According to Gopichand P Hinduja, the co-chairman of Hinduja Group of companies, "We would like the major Gulf investors including the sovereign wealth funds to invest with us in large projects where return on investment will be very high."
He added, in the interview with Gulf News, "India is a major growth story and we want to participate in this in a much bigger way. As much as US$1 trillion spending in infrastructure development has been planned in India over the next few years."
The paper further said that the Group is in discussion with the sovereign wealth funds of UAE to form partnerships. To focus on these investments, the Group would be selling its stakes in power and cable televison businesses as well as increase its current investments in the UAE.
Join the Conversation