The Hindu Business Line : Mauritius looking for Indian cos to market mineral water

Water plans
Mauritius is investing in a major project to produce mineral water from the Indian Ocean.
The Mauritius Government would invest in the first phase of the project, which includes building infrastructure to bring the water to the shore and the desalination plant.
Later it would license on or two players to market the water.

Mumbai , Sept. 28

"I am not talking about ordinary mineral water. This one is sourced from 1,200 metres under the sea; full of healthy minerals... there is a huge export market for this special water," said Mr Raju Jaddoo, Managing Director, Board of Investment, Mauritius, who is looking for Indian companies to market deep sea desalinated water from his country.

In Hawaii, he said, water from 600 metres under the sea is being sold at $8 per 1-litre bottle.

Hawaii exports 1.8 million bottles of water every day , mainly to Japan and South Korea. So Mr Jaddoo is optimistic that water from double that depth in Mauritius could fetch a better price.

Mauritius, he said, is investing in a major project to produce mineral water from the Indian Ocean. Tests show that the water is of highest purity and contains several minerals.

First phase investment

The Mauritius Government would invest in the first phase of the project, which includes building infrastructure to bring the water to the shore and the desalination plant.

" Thereafter, we will license one or two major players to market the water under the brand: Golden Special Mineral Water from Mauritius." This water can also be used for medicinal purposes, he said.

Mr Jaddoo who was in Mumbai this week, told Business Line that he is looking for Indian companies interested in the project.

Water is big business and several Indian companies are getting into bottled water business.

Tata Tea has recently paid $677 million for a 30 per cent stake in the US company Energy Brands Inc, selling vitamin water.

Mr Jaddoo, who met several entrepreneurs here, said he expects fresh Indian investments in Mauritius in areas such education, healthcare (corporate hospitals) hospitality, real estate and BPO. Indian entrepreneurs can use Mauritius as a base for their business in Africa and other countries.

As part of its India strategy, the Board of Investment in Mauritius has decided to revamp its Mumbai office. A senior official from Mauritius will take charge of the office and more staff will be added.

"We will have a targeted approach to facilitate investments from India in different sectors," he said

PTA with India?

According to news reports, Mauritius is also likely to sign a preferential trade agreement with India under which imports of a number of Indian products will be allowed duty free.

The Mauritius Cabinet has already agreed to this and a formal agreement would be signed in the next two months.

Mr Jaddoo said, "Mauritius is in the midst of a great change.

The new Business Facilitation Act that comes into force from October 1, 2006, offers the best and innate environment for business to start, grow and expand.

The objective is to make Mauritius among the top 10 investment destinations in the world from its current ranking of 32, he said.

A company can be registered in Mauritius in three working days and entrepreneurs are allowed bring their own staff. An `Occupation Certificate' - which is a combined work and resident permit — is issued to non-citizens, which allows them live there for three years.

"The beauty of it is that the certificate is issue in just three days," said Mr Jaddoo.