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 companys 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 States 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)
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