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Tata Group sets sight on China
By siliconindia staff writer
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Thursday, 23 October 2003, 19:30 IST
MUMBAI: The Tata Group, one of IndiaÂ’s top industrial houses, is actively pursuing opportunities in China to enter a host of sectors, including the hospitality, automobile and instant tea businesses, company officials said.
"We have been in the China market for quite some time and our operations here are expanding rapidly. Now, we are looking at investment opportunities in China," Senior Manager-Business Development of Tata South-East Asia Limited, Raymond Chua said.
Tata South-East Asia limited, a fully owned subsidiary of Tata International, is based in Shanghai, ChinaÂ’s largest city as well as the booming communist nationÂ’s business hub.
Chua said that the Tata group was looking at investment opportunities in China in the hospitality industry in Shanghai as well as here in the Chinese capital, Beijing.
"We are looking at various options, including takeover of an existing five-star hotel," he said. The company was eyeing three prestigious hotel projects that are coming up in the famous Bund area in Shanghai by 2007, he said.
Appearing confident of ChinaÂ’s hospitality industry, especially that in Shanghai, which is fast rising as an international metropolis, Chua said the existing five-star hotels in the city had a very high occupancy rate and there was enough room for more luxury hotels. (Source: CIOL)