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Our Bureau

Hyderabad, Dec. 1

The Bahrain-based Global Union Energy Ventures is planning to invest over $250 million in India in refineries and infrastructure projects over the next 12 months.

The company, which had opened its office in New Delhi in September, is currently in talks with over 10 companies engaged in hydrocarbon and energy infrastructure, Mr Jeffrey M. Waterous, Chairman, Global Union Energy Ventures, told Business Line here on Saturday.

“These companies include big names such as Indian Oil Corporation, ONGC and Reliance. We are expecting to launch at least two projects in India before the end of next year,” Mr Waterous said.

Global Union sees lot of potential in investing in oil and gas and energy infrastructure in India. “The refinery and power sectors here are quite attractive. Our estimation is that in Independent Power Projects (IPPs) alone India would need a capital of $20-$30 billion over the next three years. We are here for a win-win business deals as Indian entities and banks alone may not be able to provide these huge sums,” he explained.

On the quantum of funds to be invested in India, Mr Waterous said initially it could be in the tune of $100 million to $1 billion. “In fact, there is no rigid upper limit. We have invested $6 billion in an energy infrastructure project in Indonesia,” he added.

According to Mr M.A. Pathan, Regional Director, South and South-East Asia, Global Union, the firm was likely to invest $250 million in India over the next one year.

Global Union is tapped into a number of investment communities and is licensed by the Bahrain Central Bank to conduct private placements of equity and debt. It now operates four offices in Bahrain, London, Istanbul and New Delhi.

More Stories on : Venture Capital | Petroleum | Infrastructure

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