Indian cos draw $1.6 bn deal from Japanese firms

Updated on Jul 29, 2009 12:28 PM IST

India has attracted investment worth $1.6 billion for projects in the fields of power, steel, construction and engineering SEZs from Japanese companies.

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PTI | ByIndivjal Dhasmana, Tokyo

India has attracted investment worth $1.6 billion for projects in the fields of power, steel, construction and engineering SEZs from Japanese companies.

Besides, deals worth $1 billion are also in advanced stages of negotiations with Japanese counterparts, sources in the visiting Assocham delegation, led by its President Sajjan Jindal, said on Wednesday

The delegation is on a week-long visit to Japan as part of the Assocham efforts to promote special economic zones.
The biggest deal worth $1 billion was brokered by JSW Steel, company sources said.

The deal in the field of steel, power and heavy equipment will be formally inked in a couple of days, the sources said.
One of the Japanese partners of the deal is the Toshiba Group, a globally renowned conglomerate, the sources said while refusing to give names of other partners and details.

Raheja Developers, a real estate company owning the biggest engineering SEZ in India, also attracted deals worth 0.60 billion dollars from Japanese firms, company sources said.

The sources, however, did not give details of the deal, saying formal agreements are yet to be signed.

Sources in other companies also said they are in advanced stages of negotiations for deals worth $1 billion.

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