Ireland expects to invest a billion euros in India in 2-3 yrs
Press Trust of India / Mumbai Mar 15, 2010, 17:49 IST
Ireland expects to invest around a billion euros in India in the next two-three years, especially in the infrastructure sector, Senior Irish Minister Eamon Ryan said today.
"Ireland intends to invest 350 million euro in cement sector in India as part of bilateral trade and in the next two-three years, an investment of one billion euros is expected to be made in India, especially in building low-cost houses and bridges," Ryan told PTI in an interview during his two-day visit to the city.
"India has a requirement of 200 million low-cost houses and Ireland's CRH Plc, the world's second biggest manufacturer and distributor of building materials is keen to invest one billion euros," he said.
The investment will also be made for building bridges as part of bilateral cooperation in India's infrastructure, he said.
The Minister also said, another company Kingspan Group, which designs and manufactures high quality firesafe insulated roof and wall systems for the construction industry is also planning to set up a local factory in Maharashtra in the next two years.
Talking about the overall two-way trade with India, he said it was at about 600 million euro, mainly in service sector.
Ireland wants India to work with it on finance, Internet, clean energy, farming and online gaming sectors as part of the bilateral cooperation.
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