In a chat with CNBC-TV18's Farah Bookwala-Vhora, the London-based co-chairman of the USD 25 billion Hinduja Group shed light on his potential acquisition targets and explains why the renewable energy sector has caught his fancy.
I have identified, acquired the land also where we want to go [for renewables project] but again we are waiting for reforms to take place.
Gopichand Hinduja
Co-Chairman
Hinduja Group
On his last visit to India, Gopichand Hinduja had announced plans to invest USD 10 billion in distressed power and infrastructure projects in India.
In a chat with CNBC-TV18's Farah Bookwala-Vhora, the London-based co-chairman of the USD 25 billion Hinduja Group shed light on his potential acquisition targets and explains why the renewable energy sector has caught his fancy.
Excerpts from a conversation.
Q: What are your acquisition plans?
A: You must have seen my announcement when I came on my last visit that I want to invest USD 10 billion in brown projects.
Q: Have you identified potential targets?
A: We have indentified four projects in power, two in infrastructure, two in EPC and three-four in the defence sector. After the experience I have had, I will not go into greenfield projects except for alternative energies -- renewable energy. There the timeframe is six months, eight months [for us to start new projects].
Q: Have you identified a corpus that you would like to invest into renewable energy?
A: Yes. Not only that, we have identified three companies with whom we are going to be joint-venture partners. I have identified, acquired the land also where we want to go but again we are waiting for reforms to take place.
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