Debating India
Home page > Public directory > Opinions, medias & society > NRI > Malaysian NRIs to invest upto $600 mn

Malaysian NRIs to invest upto $600 mn

Sunday 9 January 2005

MUMBAI: Looking at successful Malaysian investment in Indian highway projects, Kuala Lumpur-based Non-Resident Indians have shown interest to invest upto $600 million in another area of infrastructure power sector in the country.

The effective working of joint ventures in highways projects in India has created interest among NRIs to invest in two billion Ringgit (about $600 million) power sector for small and medium size projects with controlling stake, K N Nijar, chairman Cisco group of companies and Member of Parliament (Malaysia), said on the sidelines of Third Pravasi Bharatiya Diwas function here.

The Malaysia-based investors would be interested in holding controlling stake with 30 per cent equity holding, Nijar said adding, this arrangement was to guarantee sources of funds for the project and raises debt backhome.

If any Indian party comes up with project proposals and are able to show that they are able to get the work, investors are ready to sign a tentative pact in short time, he said.

The investors would also look at captive power projects, he added.

See online : Times of Infia

SPIP | template | | Site Map | Follow-up of the site's activity RSS 2.0