The Hindu Business Line : Australia moots jt ventures with Indian companies

AUSTRALIA is keen on joint ventures with Indian companies and investments in important areas like energy, information technology (IT) and oil exploration.

The country has embarked on massive expansion in the energy sector, with 14 new thermal coal projects, six coking coal projects in the next 2-4 years. Similarly, it has entered oil and gas exploration in a big way, said Mr Tony Jowett, Senior Manager with Invest Australia.

His company, which facilitates foreign investment, would work with Indian companies on a long-term basis, he said. In 2004-05, it forged 90 projects, with potential investments of A$10,874 million and export potential of A$3,717.6 million.

Stating that Indian participation was just beginning to increase, Mr Jowett said the JV route with an Australian company was the most practical. He along with Mr Anthony Donnellan, Investment Manager, International Operations at Invest Australia, made a presentation to the local industry on Wednesday at a meet organised by the Confederation of Indian Industry (CII), AP Chapter.

Explaining why Australia is a sound investment destination, they said in recent times Lufthansa Airline and Air France located their call centres in that country. Similarly, global IT majors, infrastructure developers and so on found the country an ideal location in the Asia Pacific region.

Answering questions, Mr Donnellan the Australian government was concerned over the issue of availability of skilled professionals. Besides efforts to increase manpower, the government decided to bring in 20,000 skilled migrant workers this year.

On Indian companies investing in Australia, they said Gujarat NRE Coke was operating three coking coal units. IFFCO was looking at fertiliser plants in Queensland, while the Oswal Group was building a big project in Burrup in Western Australia.