Tata invests $224 M in South Africa

By agencies   |   Thursday, 20 April 2006, 07:00 Hrs
Printer Print Email Email
MUMBAI: The Tata group will invest $224 million in South Africa in telecom, luxury hotels, soluble coffee plant and commercial vehicle assembly plant over the next three years. As a part of this decision Tata Africa will also set up subsidiaries in Kenya and Nigeria.

Presently, Tata Africa imports and distributes vehicle, steel products, chemicals, mining consumables and other engineering items. Tata Africa has already posted revenue of over $210 million from its operations in various African countries. Tatas may later introduce a partner at a later stage.

Tata Africa was formed as a holding company in South Africa for the all the group ventures in the continent in 1994.Tata Africa has played a vital role in group’s large presence in South Africa.

SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..