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,
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.