A burst of reform sweeping through Africa could change the rhythm and pace of Indian and international investment in the region
The scope for profit and winning partnerships in countries in Africa is attracting Indian companies that have discovered pockets of opportunity for expansion in a variety of sectors. To cite some examples:
- Indian-owned Indorama Corporation, the world’s largest producer of polyester and PET resin, is to set up a US$1.2 billion fertilizer plant in Nigeria through its subsidiary Indorama Eleme Fertilizer and Chemicals Limited Nigeria;
- Wipro has set up a strategic delivery centre in South Africa and aims to create 1,000 jobs;
- Videocon is seeking to auction a 20% stake in its natural gas project in the Rovuma Basin in Mozambique;
- Jindal Steel & Power is involved in the Chingodzi coal mining venture in Tete province in Mozambique;
- Essar’s energy arm has acquired a 50% stake in Kenya Petroleum Refineries;
- Alok Industries has helped set up a cotton mill in the city of Bobo-Dioulasso in Burkina Faso.
Companies such as Fortis Healthcare, Mahindra & Mahindra, Ranbaxy and Cipla have also invested heavily in the region.
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