AP firms to take up farming in Australia

Companies from Andhra Pradesh are keen on investing in the agriculture sector in Australia, which seeks to attract Indian companies into diverse sectors, in addition to mining

Speaking to reporters in connection with a business meet with local companies and prospective investors from the state, Australian trade commissioner Michael Carter said negotiations with AP companies on entering their country’s farming sector were under way. Similarly, some Australian companies are showing interest in bringing their expertise in deep-sea fishing to the shores of AP.

While the companies headquartered in AP, including NMDC and GVK, account for 45 per cent of the Indian investments in the Australian mining sector, it is heartening to see that companies operating in other sectors such as IT and consulting and healthcare have begun contributing to the further-deepening of trade and business relations between the two countries, Carter said.

The Australian trade commissioner has been holding roadshows across the southern states showcasing investment opportunities available in sectors like renewable energy, micro-electronics, tourism and agri-business.

Gujarat NRE to invest $400 million
Gujarat NRE Coke Limited, which owns and operates two coking coal mines in Australia, will be investing about $400 million towards expanding production capacities in Australia, according to Sutirtha Roy, senior manager of the company.

Besides, the company is setting up a 1.5-million tonne capacity metallurgical coke plant near Krishnapatnam port in Andhra Pradesh at an investment of about Rs 900 crore, according to him.