Indian tycoon Tata plans to invest $15 bln in Brazil
BRASILIA, April 7 (Xinhua) -- Ratan Tata, chairman of India's Tata Group, plans to invest about 15 billion U.S. dollars in Brazil, local media reported Monday.
"Brazil has a huge potential market. I am naturally attracted to it," said the Indian tycoon, owner of a massive company made up of nearly 100 enterprises and an annual revenue of more than 50 billion U.S. dollars.
Tata has a well-informed staff of nearly 20 executives in Brazil to decide exactly where he will make his investments, the report said, adding that he is especially interested in the areas of ethanol, beverages, automobiles and metal production.
He also wants to build a nuclear power plant in Brazil and is looking for partners, the report said.
Italian automaker Iveco will participate in the production of pick-ups and trucks for Tata Motors in a plant in Sete Lagoas, a city in the Brazilian state of Minas Gerais.
Last month, Tata Motors announced its 2.3-billion-U.S. dollar purchase of luxury British car icons Jaguar and Land Rover,
Tata Motors also plans to manufacture the Safari, its best selling sports utility vehicle in India, on Brazilian soil.
Source: Mathaba
"Brazil has a huge potential market. I am naturally attracted to it," said the Indian tycoon, owner of a massive company made up of nearly 100 enterprises and an annual revenue of more than 50 billion U.S. dollars.
Tata has a well-informed staff of nearly 20 executives in Brazil to decide exactly where he will make his investments, the report said, adding that he is especially interested in the areas of ethanol, beverages, automobiles and metal production.
He also wants to build a nuclear power plant in Brazil and is looking for partners, the report said.
Italian automaker Iveco will participate in the production of pick-ups and trucks for Tata Motors in a plant in Sete Lagoas, a city in the Brazilian state of Minas Gerais.
Last month, Tata Motors announced its 2.3-billion-U.S. dollar purchase of luxury British car icons Jaguar and Land Rover,
Tata Motors also plans to manufacture the Safari, its best selling sports utility vehicle in India, on Brazilian soil.
Source: Mathaba
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