With interests varying from sugar to railway wagons and travel to media, octogenarian business magnate Dr Krishna Kumar Birla is still at his enthusiastic best when it comes to setting up new businesses and forging tie-ups with overseas firms. On Tuesday, right after group company Texmaco signed a memorandum of understanding with Australian firm United Group for setting up a new manufacturing unit in West Bengal, Dr Birla met representatives of the firm over a power lunch. HT’s Jaidev Majumdar caught up with him.
What is the significance of today’s announcement by Texmaco?
Today we have made a beginning in Texmaco’s journey. As you may be aware, Texmaco has charted out a new expansion plan and today’s agreement with Australian company (United Group Limited) is in that direction. There will be rapid progress from here on.
What will the new joint venture do?
The United Group has an expertise in various aspects of railway. They have chosen us as their partner in India after scrutinising the market for long and evaluating the immense opportunities that lie ahead in developing railways in India. They will manufacture special kinds of wagons with higher carrying capacities and also export.
How does it feel to set up a greenfield unit now?
This is not the first greenfield project of Texmaco since it has set up a foundry unit as well. However, my people here will be able to tell you better as I have over a period of time have passed the responsibility to the professionals. However, I’m very happy about the prospects since it will bring in investments. I’m looking forward to it and the government too is very keen.