October 11, 2007

Thailand company likely to invest US$10 million in State

Thailand's CP Aquaculture to invest US$10 million in India's Assam state.

A major Thai business has shown keen interest in investing US$10 million in India's state of Assam in the aquaculture and fishery sector.

State Commerce and Industries Minister Pradyut Bardoloi said that the Thai company, CP Aquaculture Ltd, was keen to invest in seafood processing and fishery, in the north-eastern part of India, mostly in Assam.

The Thai company is also likely to start fish production in the state and build cold storages, he said.

Bardoloi said CP Aquaculture's interest in the area arises from the fact that Assam has a huge demand for fish and fish products.

Meanwhile more than two dozen companies from various industries in the State have entered into MoUs with various Thai businesses for joint ventures.

The State Government, too, had an agreement with the Thai Contractors' Association -- a conglomerate of 120 Thai companies -- for enhancing bilateral cooperation in trade and commerce.