A Qatari conglomerate has signed an agreement to construct a $240 million float glass manufacturing facility in India.
Aria Holding and the Government of Maharashtra in India signed an MoU for INR 2,000 crore (US$240 million) at the World Economic Forum 2024 at Davos, Switzerland.
Sheikh Ali Bin Hamad Al Thani, Chairman, Aria Holding, said: “India is a compelling destination for investment, and Maharashtra, with its location, workforce, infrastructure, and progressive policies, provides us with a great platform to establish our factories.”
Suraj Thampi, Group CEO of Aria Holding, said: “Our factories in Maharashtra will manufacture glass for local, national, and international demand.
“India is going through a massive boom in infrastructure development nationally, and we plan to capture a significant share of that growth.
"Through our portfolio companies, we also plan to establish a robust export strategy for our products.”
Mr. Eknath Shinde, Chief Minister of Maharashtra, said: “We are committed to providing all necessary support for successfully establishing the float glass plant.”
He added that the MoU aligns with the ‘Make in India’ initiative launched by Prime Minister Narendra Modi in 2014 to reposition India as a critical market to do business in, attracting growth in foreign investments.
Infrastructure development is core to India’s growth strategy, and float glass plays a pivotal role across sectors, including construction, automotive, and industries.
A significant amount of float glass requirements is still met through imports, and demand continues to increase.
The agreement was signed by Mr. Suraj Thampi, Group Chief Executive Officer of Aria Holding, and Dr. Harshdeep Kamble, Principal Secretary of the Industries Ministry, in the presence of the Chief Minister of Maharashtra, Mr. Eknath Shinde, the Minister of Industries, Mr. Uday Samant, and Mr. John Douglas, Commercial Director, Alutec Facades.
31.01.2024, Qatar Foundation
Notícias sobre o material do site é copyright e pertence à empresa ou ao seu fornecedor de terceiros notícia, e todos os direitos reservados. Qualquer usuário que acessa esse material poderá fazê-lo apenas para seu próprio uso pessoal, bem como a utilização desse material é de risco exclusivo do Utilizador. A redistribuição ou exploração comercial de material tal notícia é expressamente proibida. Se tal notícia material é fornecido por um terceiro, cada utilizador concorda em observar e estar vinculado aos termos específicos de utilização aplicáveis a material notícia. Nós não representamos nem endossamos a precisão ou confiabilidade de qualquer informação contida em qualquer notícia ou sites externos referidos na notícia.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.