Indian invests $25 mn in Kurdistan

New delhi, Aug 25: An Indian businessman has invested 25 million dollars o set up a steel plant in Kurdistan in the volatile West Asian region and is looking for Indian workers.

Chairman and Managing Director of the Kuwait-based Kanoos Group of companies Kadar Pillai, who is here to pursue the Government of India to relax rules for recruiting Indian workers told newsmen that there is tremendous scope for employment for the job seekers in the skilled and unskilled areas in that region.

A native of Ernakulam district of Kerala, he is the first Indian to make such a huge investment in Kurdistan which is part of the war-torn Iraq. At present the government does not permit Indian workers travel to Iraq or the adjoining areas.

"If our government does not allow, we have no other option but to recruit workers from Pakistan and Philippines", he said.

The Kurdistan unit, with the state-of-the-art facility, will have a capacity to manufacture 200 metric tonnes a day initially, with immediate plans to double the capacity.

Kanoos Group is implementing the project in partnership with the UK- West Asia based Al-Zahawi group.

"Compared with other parts of the East Asia, Kurdistan is lagging behind in growth and development. But the potential is very high as the present local government is very keen on taking the region to a new trajectory of development", said Mr Kadar.

He said the security situation in Kurdistan is also quite encouraging for safe investment.

Elaborating his diversi fication plans, Mr Kadar said another 15-18 million dollars will be invested in the Kudistan palnt. His new Rs 100 crore venture will be commissioned by the end of this year.

The Kanoos group, which has a turnover of about 150 million dollars, has a wide business network in Kuwait, Dubai and India.

The company has already invested more than Rs 220 crores in the hospitality and real estate sectors in India with a plan for another Rs 300 crores investment in the next one year.

The group which is already running a four- star hotel in Guruvayur in Kerala, is planning a fuve star hotel in Kochi. His compnay is also exploring the possibility of setting up hotels in Delhi and Gurgaon ahead of the 2010 Commonwealth games.

Mr Kadar, who is a leading player in the construction and support activities in Kuwait, has a workforce of 5000 personnel.

UNI