Tata group bullish on Far East

Kolkata, Sept 05 (UNI) After establishing presence in the South African market, the Tata Group is looking at opportunities in the Far East.

"We are looking at Far East," Tata Sons executive director R Gopalakrishnan told reporters when asked about the geographies the Tata Group is looking at.

The Tata Group had already established presence in the telecommunications sector in South Africa. The group has started work to set up a high carbon ferro chrome plant in the port city of Richards Bay. The company is looking at mining opportunities in chrome, manganese, coal and iron ore in Africa.

Gopalakrishnan said the Tata Group is looking at both organic and inorganic growth opportunities and would utilise acquisition opportunities that come in the way.

"We are looking at every type of growth opportunities. If good acquisitions come in the way, we will not hesitate to go forward," he said.

Tata Group recently acquired US based Glaceau, the makers of health drink Vitaminwater for 677 million dollars (over Rs 3100 crore), making it one of the largest acquisitions by any Indian company abroad.

He said as stated by chairman Ratan Tata, Tata Sons would increase stake in group companies at the "right time". "It's not a fixed agenda. We will do that at the right moment," he said.

However, he did not spell out the sectors the Tata Group is looking at.

To a question on the problems faced by the West Bengal government for acquiring land at Singur in the Hooghly district, he refused to comment.

Mr GopalKrishna was speaking in the sidelines of a CEO conclave organised by Calcutta Managment Association.

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