Tata Power scouts for investment opportunities abroad
SUMIT KUMAR
November 5th, 2013
0

Tata Power is scouting for investment opportunities and assets overseas to spread the risk and grow.

The company, which has already lined up several power projects in many countries, said it would concentrate on Africa, Southeast Asia, the Middle East and the SAARC (South Asian Association for Regional Co-operation) region to grow its overseas business.

Multiple reasons

“There are multiple reasons to make a foray into the international market, and it is not just due to the fact that today there are tremendous challenges in India, which seem to be lingering for too long. Firstly, land issues. Secondly, most States are claiming to become surplus, suggesting that they do not need any extra power. In addition, there are not too many opportunities that one sees on the horizon,” Tata Power Managing Director Anil Sardana told The Hindu.

“With the result, whenever an opportunity comes, there is tremendous competition, which renders that particular opportunity completely unviable. But perhaps this is one of the reasons that would deter one from investing more in India,” Mr. Sardana said.

“One must give credit to opportunities that exist outside. It is not that since one finds challenges in India, one decides to move out. The opportunities in countries outside are more predictable, far less risky, and the attitude of select nations is progressive towards foreign investment. These factors also prove positive for the company to go there. It is important for faster clearance of these investments by respective governmental institutions,” Mr. Sardana added.

Tata Power has prioritised four key regions — Africa, Southeast Asia, the Middle East and SAARC — for its international play.

The company has deployed resources in these regional geographies to understand the market dynamics and scout for opportunities.

Continue…

Source: The Hindu

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