Tatas to invest $26B in India

By agencies   |   Friday, 25 August 2006, 07:00 Hrs
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NEW DELHI: The Tata group will invest over $26 billion in India in the next three to five years, stated
Tata Industries MD Kishore Chaukar. “The investments will be in sectors and businesses including VSNL and steel, auto, power and chemicals,” he said. The group is also looking at investing in emerging businesses like alternative medicine, other energy projects and utilities, both home and abroad.

The present investment will strengthen Tata’s global presence; the group already has acquired 18 businesses worldwide in the past six years. We have invested quite substantially internationally as well.

The focus of the house will be to some extent wider than what it has been in the past," said Chaukar.
Koushik Chatterjee, CFO, Tata Steel says that part of the $750 million equivalent seven-year loan, which will go towards its capital expenditure program, will be used for its overseas acquisitions. "This fund raising is not only for this year's capex but as a long term capital expenditure program that has often been announced. This is in line as part of an overall funding program rather than for any specific requirement," said Chatterjee.

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