Ruia to invest Rs 1000 crore in Asom

Guwahati, Sep 15 (UNI) The Ruia Group, which had diversified portfolio ranging from heavy engineering to foodgrain, was investing about Rs 1000 crore in Asom in four sectors, cement, tea, power and sugar.

Addressing a press conference here today, Chairman of Ruia Group of Industries Pawan Kumar Ruia announced his willingness to invest over Rs 1000 crore in the state in four sectors - cement, tea, power and sugar.

Mr Ruia said approach from the part of the state government was ''very much positive'' and '' We are ready to invest in that state in a bigger way. '' Earlier, Mr Ruia called on Asom Chief Minister Tarun Gogoi at his Janata Bhawan residence.

The entire region in general and state in particular possess huge potential of raw materials to set up various industries.

''Insurgency'' was the main hurdle to set up an industry in the region earlier, he said adding, '' Time has been changed and now the situation was improved many fold. '' To a query, he said cement sector would get his first priority because of the availability of huge quantity of raw materials, and no raw materials would have to be imported from other states. He, however, did not divulge details of his investment in this sector.

'' Before we invest, we will analyse all pros and cons of investment within next two months, '' he added.

'' In tea, we are ready to invest in this sector too. We came to know in some big tea gardens and some territorial problems remain.

once it is solved we would definitely invest in this sector, '' he stated.

He said, '' One small unit of sugar industry exists in the state.

We have a plan in our mind to revamp it in a bigger way with more employment generation and growth of industries in the state. '' '' When we took over a loss-making Jessop and Co in Aug, 2006, there was a fear-psychosis among the employees of retrenchment and sale of land but in fact, neither was a single employee retrenched nor a single inch of land sold, '' Mr Ruia added.

'' We have a plan to set up a 1000 MW power generation capacity power project in the state in near future, '' he said.

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