Tata Industries looks to invest $350 million into global start-ups, including aerospace

02 September 2008

Tata Industries Limited is reportedly planning to invest around Rs1,500 crore ($350 million) into international start-up businesses.

Tata Industries managing director Kishore Chaukar has said that his company, which is the group's flagship that acts as a promoter of businesses for the Tata Group, is looking at breakthrough technologies, and would consider getting into an emerging business. 

Chaukar said that during the past two years Tata Industries and Tata Sons have together invested around Rs125 crore in supporting new technological research by various individuals globally in the fields of solar energy, drug discovery, contract research, water recycling and biotechnology. 

He said that investments in these individual research products ranged from a relatively miniscule Rs60 lakh, to around Rs50 crore.  

Tata Industries had extended financial support to Zurich-based Institute of Polytechnic, which conducts research and development for flexible photovoltaic cells. 

Chaukar said that if the technology were to click, Tata Industries would take a significant stake in the 100MW solar power plants that the institute would set t up. Tata Industries has a plan to set up a 120MW solar power plant by 2010, for an estimated Rs600 crore.