Tatas aim for high growth in Africa
Group plans to set up commercial vehicle plants, hotels and also invest in mining and telecom.business Updated: Mar 19, 2013 00:00 IST
The salt-to-software Tata Group is planning to expand its operations in Africa by investing in automobiles, mining, hospitality and telecom sector, a senior official said on Monday.The group earns more than $2.3 billion revenue from its operations in Africa. It is expecting an annual revenue growth of about 30% in the coming years from its operations in the continent.
The group at present has operations in 20 countries in Africa in nine segments. It has so far invested about $ 1.7 billion in the continent.
“We are keen to expand in hospitality sector in three to four countries. In next few months, you will listen some important announcements,” said Raman Dhawan, managing director of Tata Africa Holdings. The group’s hospitality chain Taj Hotels Resorts and Palaces at present has a hotel in Lusaka (Zambia) and Cape Town.
Tata Motors is looking to set up new assembly facilities through local partners in countries like Tunisia and Kenya. “We are looking at new assembly operations in Tunisia and Kenya through local partners. We are focusing on small, light and medium commercial vehicles,” said R T Wasan, head of Tata Motors International Business (commercial vehicles business unit). At present, Tata Motors has an assembly plant for commercial vehicles in South Africa.
Wasan also informed that Tata Motors also plans to start bus body building in South Africa along with its global partner Marcopolo.
Dhawan also informed that the company is also looking at mining in a big way.
Tata Group had first set up its operations in Africa in 1977 in Zambia through Tata International, its trading arm, by marketing Tata Motors vehicles. Today, it is present in the continent through its nine companies including Tata Motors, Tata Consultancy Services, Tata Communications, Tata Chemicals and Tata Power.
“We are involved in a big way in knowledge and skill development in Africa. We are also involved in social development of the country,” said Dhawan.
First Published: Mar 18, 2013 17:42 IST