Tuesday, September 26, 2006

Mahindras planning huge investments in Bihar

The diversified Mahindra and Mahindra group on Monday said it was keen on entering infrastructure, rural finance and the IT space in Bihar, besides utility vehicles but refrained from assinging any investment figures.

Sectors like tractors, infrastructure, rural financing and information techonolgy are some of the key areas in which the Mahindras would like to reigster their presence in the state in a big way, Group Vice-Chairman Anand Mahindra told reporters after a meeting with Chief Minister Nitish Kumar here.

"We are a big group and when we will arrive in the state.. it will be in a big way," he said when asked about the quantum of investment proposed by his company.
Mahindra said he was "very much impressed by the papers presented by Bihar government officials regarding investment opportunities in the state" and that his company was keen on availing of the "growth opportunity" the state presents.

Flanked by the Chief Minister Nitish Kumar and state planning board Vice-chairman N K Singh, he said agriculture and agro-based industries had a great potential in Bihar and that Mahindras would like to help the state emerge as the number one agro-product exporter in the country.

Kumar said the NDA Government had succeeded in creating a conducive atmosphere for industrialists to make investments in Bihar and that the state had decided to form a development council, which would have top industrialists of the country as members.
"I am happy to announce that Anand Mahindra has agreed to be a member of the council", Kumar said.
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