Wadia group keen on investing in West Bengal
15 Sep 2007
The
Wadia group is planning to invest in healthcare, education
and infrastructure in West Bengal, joint managing director
of Bombay Dyeing Ness Wadia told the media on Friday 14
September after he met chief minister Buddhadeb Bhattacharya
and discussed business opportunities in the three sectors
in the state. Bombay Dyeing is the flagship company of
the Wadia group.
Wadia was in Kolkata for the national executive committee meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI). However, the group has not made any concrete proposals.
"We have a hospital in Mumbai exclusively for women and children, which we plan to revive. The Wadia group also runs two educational institutions in Mumbai. These are presently run by a charitable trust of the group. But nowadays, healthcare and education are immense business opportunities," Wadia said.
Bombay Dyeing has three divisions, including a real estate outfit that is working on two residential housing projects in Maharashtra. This division can look at opportunities in infrastructure like housing and car parking, Wadia said. The group may also set up a manufacturing base in the state through the Bombay Burmah Trading Corporation, which has interests in tea, teak and weighing machines.
The
Wadias are planning to use the huge cash reserves of the
Bombay Burmah Trading Corporation to fund their proposed
acquisition of Groupe Danone''s 25.5 per cent stake in
Britannia Industries. Bombay Burmah has more than Rs600
crore ($148.4 million) in reserves and surplus.
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