[Assam] Thailand company likely to invest $10m in State (The Assam Tribune, 10.10.2007)

[Buljit Buragohain]

Thailand company likely to invest $10m in State
By A Staff Reporter
 GUWAHATI, Oct 9 – In what is likely to be the first case of foreign direct investment (FDI) in the State, a major business concern of Thailand has shown keen interest in investing $ 10 million in Assam in the aquaculture and fishery sector. This apart, 25 companies of the State have entered into MoUs with business houses of Thailand for facilitating joint ventures in diverse areas such as infrastructure development, construction, food processing, handloom and handicrafts, tourism, etc. 

The State Government, too, had an agreement with the Thai Contractors’ Association — a conglomerate of 120 Thai companies — for enhancing bilateral cooperation in trade and commerce.

Revealing this to the media today, State Commerce and Industries Minister Pradyut Bardoloi said that the Thai company, CP Aquaculture Pvt Ltd, was keen to invest to the tune of $ 10 million in sea food (fish) processing, fishery, etc., in the North-East, mostly in Assam. 

“The Thai company is also in favour of joint ventures and we can benefit by way of transfer of technology and expertise. It is also likely to start fish production in the State and also construct cold storages,” he said. 

Bardoloi said that the Thai company’s eagerness to invest in Assam stemmed from the fact that Assam had a huge demand for fish and fish products.

Meanwhile, following the investment summit in Thailand last week, 25 companies of the State have signed MoUs with Thai business concerns. “As per the MoUs, there will be joint ventures in infrastructure, construction, tourism, food processing, handloom and handicrafts, etc., and both sides stand to benefit from this,” he said.

Some of the companies that have entered into agreements are RAG Group (with Inmode Trading Co of Thailand), ARTFED (with Thai Silk Association), Williamson Magor (with Personal management Co and Inmode Trading Co), Manmohan Bricks and Tiles, Prihvi Diary, Purvanchal Banijya Bikash, Orient Processing Pvt Ltd, Welcome India Pvt Ltd, Super Infra-Tech Pvt Ltd, NK Constructions, etc.

According to Bardoloi, the developments augured well for the State’s trade and industry, as under the agreement, the TCA would initiate steps for transfer of world-class construction technology and management practices to the Assam-based companies. “Moreover, they will also take steps for development and upgradation of skills for local manpower. The State Government will play the role of a facilitator in the process,” he said. 

Terming the Thailand summit as a success, the Minister said that the meet witnessed direct one-to-one interaction between traders and industrialists from the two regions, and the joint ventures were the immediate result of that interaction. He was particularly hopeful about the effects the business ventures would have on the infrastructure of Assam and the North-East. 

Bardoloi said that of late the DoNER Ministry, Union Minister Mani Sankar Aiyar in particular, was taking a lot of initiatives for linking the North-East with its South East Asian neighbours.
  
 (The Assam Tribune, 10.10.2007)





       
---------------------------------
 Now you can chat without downloading messenger. Click here to know how.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://assamnet.org/pipermail/assam_assamnet.org/attachments/20071010/8b6c77a5/attachment.html