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Thailand company likely to invest $10m in State

by the Fish Site Editor
10 October 2007, at 1:00am

INDIA - In what is likely to be the first case of foreign direct investment (FDI) in the State, a major business concern of Thailand has shown keen interest in investing $ 10 million in Assam in the aquaculture and fishery sector.

This apart, 25 companies of the State have entered into MoUs with business houses of Thailand for facilitating joint ventures in diverse areas such as infrastructure development, construction, food processing, handloom and handicrafts, tourism, etc.

The State Government, too, had an agreement with the Thai Contractors’ Association — a conglomerate of 120 Thai companies — for enhancing bilateral cooperation in trade and commerce.

Revealing this to the media today, State Commerce and Industries Minister Pradyut Bardoloi said that the Thai company, CP Aquaculture Pvt Ltd, was keen to invest to the tune of $ 10 million in sea food (fish) processing, fishery, etc., in the North-East, mostly in Assam.

"The Thai company is also in favour of joint ventures and we can benefit by way of transfer of technology and expertise. It is also likely to start fish production in the State and also construct cold storages," he said.

Bardoloi said that the Thai company’s eagerness to invest in Assam stemmed from the fact that Assam had a huge demand for fish and fish products.

Source: TheAssamTribune

the Fish Site Editor