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NRI businessman to set up Steel Plant in Iraq
Tuesday, August 26, 2008

Kuwait-based Kanoos Group along with a UK-based firm will set up a steel plant in Iraq.
The company is led by NRI businessman K S Kaddar Pillai. The Company will invest Rs 110 crore in the project to be carried forward in partnership with UK-based IPBD, the company said in a statement here today. "There is an immense potential for Indian entrepreneurs to invest in various areas like industry, real estate and civil construction (in Iraq) and the administration is providing all conducive elements for investors, especially those from India," it said.

The Kuwait-based construction company, which is running a four-star hotel at Guruvayur in Kerala, is planning a five-star hotel in Kochi. It has also acquired land near the Kochi. International Airport to set up an IT Park, it added. "The company is also exploring the possibility of setting up hotels in Delhi and Haryana ahead of 2010 Commonwealth Games in the national capital," it said. The company would also venture into major hospitality projects in Kerala and Goa, in its efforts to cash in on the booming tourism sector.

 

 

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