Tata Group to expand investments in Africa; may launch Nano
10 Apr 2008
The Tata Group is planning significant investments across sectors in Africa at an investment of $768 million earmarked for new projects in sectors spanning automobiles, hospitality, hotels, and IT sectors.
Tata Sons, Tata Africa and Tata Motors will investment of $100 million dollars in an vehicle assembly plant it acquired in Pretoria, South Aftrica last year. The plant is expected to become operational by 2010.
Tata Motors is also said to be studying the scope of assembly of passenger carsin Africa and may start SKD operations in Senegal for commercial vehciles by the year end, while expanding operations in Ghana, Uganda, Angola and Algeria.
The company is also reported to be planning to introduce the Nano in Africa and also further strengthen its semi knocked down vehicle assembly operations in Kenya. It is also conducting a feasibility study to start SKD assembly operations in Congo as well.
The Group also plans to open three new hotels in Cape Town, Durban and Johannesburg at an investment of $115 million dollars. It will also invest about $3 million in the IT and another $7 million in its steel business.
The Tata Group expects these projects to yield total revenues in excess of $1 billion in about three years.
In addition to this Tata is also keen on mining opportunities in iron ore, coal and manganese. The group is also keen to invest $35 million in the real estate space in the short term.