Tata to invest Rs 1.2 lakh cr in 5 years
PRESS TRUST OF INDIA
New Delhi, Apr 17: Diversified business house Tata Group will invest up to Rs 1.2 lakh crore across sectors in the domestic market in the next five years as it looks to more than double its revenues to $150 billion (about Rs 6.64 lakh crore) by then.
The Tata Group, which has over 90 operating companies, will put in half of the planned investment in power sector, while the other significant portions will be in steel and automobile sectors.
"We have become a significant player globally in each of the sectors that we are present in. In the next five years, the pace of growth of the group will continue... The current investment assessment for the next five years is around Rs 1.1 lakh crore to Rs 1.2 lakh crore," Tata Industries Managing Director Kishor A Chaukar told PTI. Tata Industries is one of the investment arms of Tata Group.
This investment has been planned essentially for the Indian market and it will be pumped in across various sectors like power, steel, automobiles, telecommunications and chemicals, he said while announcing the ambitious roadmap for doubling the turnover of the group in less than five years from now. Chaukar said the Mumbai-based conglomerate has already invested about Rs 70,000 crore in the last three years and Rs 1.2 lakh crore would be in addition to this.
Lastupdate on : Sun, 17 Apr 2011 21:30:00 Makkah time
Lastupdate on : Sun, 17 Apr 2011 18:30:00 GMT
Lastupdate on : Mon, 18 Apr 2011 00:00:00 IST
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