Government wants British firms to invest in infra projectsJuly 29th, 2010 - 6:10 pm ICT by IANS
New Delhi, July 29 (IANS) The Indian government has asked British infrastructure and consulting companies to invest in infrastructure projects, Road Transport and Highways Minister Kamal Nath said Thursday.
“We are looking at British infrastructure and consultation companies to invest in India’s infrastructure projects. We have to work together to realise the potential of growth in this (sector),” Nath told reporters here at the residence of the British High Commissioner to India.
“To develop India, we need to build roads and for that we need to make greater use of the the latest technology available,” Nath added.
British Business Secretary Vince Cable said: “As India develops its infrastructure, the potential for further co-operation between India and Britain is enormous.”
both Cable and Nath were speaking at an event organised to unveil the 100,000th excavator manufactured by construction equipment maker J.C. Bamford (JCB).
JCB started out as a joint venture (JV) in 1979. In 2003, it acquired 100 percent stake in the Indian subsidiary. Currently, the company has a 50 percent share of India’s construction equipment market.
Last year, the company expanded its Ballabhgarh, Haryana, plant’s capacity to become the largest construction equipment facility in the world.
“We are very well positioned to take advantage of the growing demand for construction equipment in India,” said Vipin Sondhi, JCB chief executive.
The company manufactures and markets 21 models in seven product segments like loaders, loading shovels, tracked excavators and pick and carry cranes, which are used in diversified fields such as mining, dredging and clearing of sand, mud or rubble.
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Tags: bamford, british business, british high commissioner, construction equipment market, consulting companies, cranes, diversified fields, excavator, excavators, indian government, indian subsidiary, infrastructure projects, jcb, kamal nath, loaders, loading shovels, product segments, road transport, rubble, vince cable