CPC eyes India business opportunities
Hyderabad (India), December 2, 2012
A high-level Saudi business delegation led by Construction Products Holding Company (CPC) was in India last week to explore potential business opportunities mainly in development of industrial parks and setting up green field building materials factories.
The visit was organized jointly by the Consulate General of India and the Saudi-Indian Business Network (SIBN), said a statement from CPC.
The delegation was headed by Dr Ghazi Binzagr of Binzagr Group and Dr Faysal Alaquil, the director of business development and the head of CSR at CPC .
On the business opportunities in India, Dr Alaquil said: "We have recently established a limited liability company egistered in Mumbai named 'CPC India for Industrial Development'. This new company will be working on three parallel lines under the umbrella of the Holding company in Saudi."
"The core business are development of Industrial Parks, set up green field building materials factories and acquisition of existing building materials factories," he stated.
Dr Alaquil pointed out that CPC had already formed a partnership with a large Indian company (IL&FS India) and was now carrying out the technical and legal due diligence for the lands prior to acquire them and start the developments.
CPC - India will also start with a precast factory and a ready-mix plant to expand its operations as per the market needs and requirements, he added.
Describing the visit as a significant one, the Indian Consul General in Jeddah Faiz Ahmad Kidwai said, “It will strengthen and cement the good ties that currently exist between our two countries.”
During the visit, the Saudi delegation met the Indian Minister of state for External affairs besides the Saudi Arabian Ambassador in India and the Saudi commercial attaché.
The delegation also met the Indian Minister of Commerce & Industry and visited a number of companies specializing in infrastructure development and real estate developments.
The Saudi team later visited the Indian Islamic Cultural Center in Delhi and the Dainik Bhaskar Group, the largest newspaper & media publishing house.
Dr Alaquil said it was mutually beneficial to build bridges between the two counties. "But what is more important is to maintain these bridges for a sustainable development," he added.-TradeArabia News Service