Al Ghurair-Malaysia Firm JV in India on The Cards

NEW DELHI, July 4 (Bernama) – Al Ghurair Investment LLC, a United Arab Emirates' (UAE) conglomerate, is currently in talks with a Malaysian company for a possible joint-venture investment in India, its Vice-Chairman, Essa Al Ghurair, said Wednesday. "We are already in discussions on a possible tie-up with a Malaysian private company to invest in India,” he said. However, it is still too early to reveal anything. It is not firm yet. We will need to work out the numbers and the project. "If everything goes on well, the announcement could come out by end of this year." he told Bernama on the sidelines of the World Islamic Economic Forum’s International Advisory Panel (IAP) meeting here. Asked if the tie-up was with Syed Mokhtar Al-Bukhary’s group of companies, Al Ghurair said: “I know him. He is a nice man. We have yet to come on a project that we can match with each other but we never say no.” On investments in Malaysia, he said, Al Ghurair has 4,000 hectares of oil palm estate in Malaysia. “It's a small project. We have plans to expand it,” he said. Al Ghurair Investment is one of the leading international conglomerates in the Middle East with many successful businesses in diverse sectors, including construction, properties, commodities and food. -- BERNAMA