Saudi firm to invest in telecom, healthcare

Saudi Arabia-based investment company Excab International Holding Company for Trading Development (EXSAB) is planning to invest in Indian unlisted companies.

The investments would be in sectors such as telecommunications, healthcare and manufacturing. “India is a large economy. We are looking at investing around $30-50 million in one company. Looking at the valuations, we would like to invest in another three months,” said EXSAB Chief Executive Officer Faisal A Al Faisal.

EXSAB has investments in BPO sector, mining, telco passive infrastructure, visa processing, travel and healthcare. The company is in talks with three telecom companies and would enter into a deal shortly.

The company today signed a memorandum of understanding with Icra Management Consulting Services (IMaCS), a wholly owned subsidiary of Icra for setting up a joint venture company. The company would service in West Asia and North Africa, he said and added that his company is completely underleveraged at the moment.

The JV, in which IMaCS will be the knowledge partner, will begin operations in 21 countries by February next year. The venture will rope in other companies, while the two partners will maintain one third of the stake.