First FDI to flow into Assam from Thai company

Guwahati, Oct 9 (UNI) The first Foreign Direct Investment(FDI) to Assam is all set to flow in from a Thai company, dealing in sea food and other allied processed food items.

State Commerce and Industries Minister Pradyut Bordoloi today said the C P Aquaculture Pvt Ltd company of Thailand had expressed interest in direct investment in the state.

Mr Bordoloi was briefing reporters after coming back from an investors meet between North East and Thailand at Bangkok last week.

He said, the state could see its first FDI from the Thai company and that they were keen to invest 10 million USD in the state. The officials of the C P Aquaculture Pvt Ltd had visited the state in June this year, as part of a delegation from Thailand led by the country's Commerce Minister to NE to explore investment and trade possibilities.

They will be returning by October end to finalise all details, Mr Bordoloi added. The Thai company was mostly into packaging and marketing of aqua food and would also bring in technology to set up processing units in the state, the minister informed.

He further informed that as many as 26 MoUs have been signed between the Thai company and the state's businessmen during the meet. A major MoU was signed between the state government and Thai Contractors' Association, an umbrella organization of about 150 contractors under the Thai Commerce ministry, which would explore investment opportunities in infrastructure development in the state.

The remaining 25 MoUs were signed like in food processing, milk and agro-based products, handicrafts and handlooms, tiles and bricks manufacturing, biodiesel, tourism, consultancy services and construction sectos. The minister said the emphasis was on building joint venture projects for infrastructure development, which included building of roads, between Thai companies and local businessmen. He said, The state government will create a special desk for executing these MoUs and helping in setting up new ventures.

The Commerce minister informed that state Transport Minister Chandan Brahma, who had also participated in the Bangkok meet, held discussions with the Thai marine department on navigation systems and water ways development along the Brahmaputra and Barak river systems.

About 150 delegates, including three Cabinet ministers, had participated from the state in the Bangkok meet, with over 350 participants from the entire NE. Chief ministers of all NE states,except Assam and Tripura, had also attended the meet.

UNI