The Hindu Business Line : Skoda Power to set up turbine unit in Hyderabad

Hyderabad, Sept. 18 Skoda Power, the Czech major, is scouting for a suitable site around Hyderabad to set up a manufacturing plant for turbines to meet the demands of the power sector. Stating this, Mr Richard David, Commercial Counsellor, Embassy of Czech Republic, told a meeting here that his country was also a major player in the modernization project of the Nizampatnam Port in coastal Andhra Pradesh.

The project estimated to cost around $1 billion was one of the major initiatives signed with the State Government a couple of years ago. Several top delegations, including the Prime Minister and the deputy PM have visited India in recent times to boost trade, he said.

Speaking at the Luncheon session organised by the Confederation of Indian Industry (CII) here today, Mr Richard David said a high level delegation led by Czechinvest, the arm to promote foreign direct investment (FDI) in the country was making efforts to strengthen trade and commercial relations with India now.

Addressing the first major investment drive beginning here, Ms Alexandra Rudysarova, Director-Investment of Czechinvest, said FDI from India in business support services (IT, call centre, BPOs) and research and development was most welcome.

At present the Indian presence in the Czech Republic was limited to Infosys, Ashok Leyland and Alok Industries. The Czech team is making its pitch tomorrow in Chennai and thereafter in Pune and Mumbai.

The Czech Republic with just over 10 million population has a FDI of $6 billion in 2006; a GDP growth of 5.5 per cent and inflation of 2.5 per cent. The unemployment level is also 6.2 per cent. In view of this the country is looking at FDI in industry sectors, which have higher employment potential, She said.

More Stories on : New Projects | Electrical Goods | Andhra Pradesh

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