The Hindu Business Line : Alghanim Group bullish on India

Alghanim Group, the Kuwait-based $1-billion business conglomerate, is bullish on the opportunities in the Indian market. It is now evaluating plans to expand in the Indian market, according to its Chief Executive Officer, Mr Omar Kutayba Alghanim.

The group has interests in automotive, manufacturing, retail, financial services, consumer products and others world over. It is into the manufacture of pre-engineered steel building (PEB) solutions and thermal and acoustic solutions in the country.

"We may either set up greenfield manufacturing units or weigh the option of acquiring the existing facilities. We have asked the merchant banking professionals to conduct due diligence exercise and we expect to decide over the investment plans shortly. Within the country, we are bullish on Hyderabad.

"Though we are yet to zero in on our Indian headquarters, we are keen on Hyderabad," Mr Alghanim said.

Alghanim Group, which employs over 4,000 people in 34 different countries around the world, has 500 people working for its Rs 300-crore Indian company - Kirby Building Systems India - at Hyderabad.

Expansion plans

Riding high on the booming infrastructure segment in the country, Kirby India, which is into PEB solutions, has embarked upon an expansion involving an investment of $20 million. The company is aiming at a turnover of Rs 500 crore and double the workforce to 1,000 by the current fiscal-end.

According to the Kirby India Chairman, Mr Marwan J. Karadsheh, the company now has its manufacturing facility in the outskirts of Hyderabad that was set up at an investment of $30 million with a capacity of 75,000 tonnes. The new plant, coming up at Hardwar in Uttaranchal with a capacity of 60,000 tonnes, would take off shortly, he said.

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