Istithmar keen on investing in India

Mumbai: Dubai investment firm Istithmar is keen on investing in hotels and infrastructure projects in India, and believes sectors such as aviation, which are ripe for liberalisation, are good investment bets, a senior official said.
Istithmar, the private equity arm of the Dubai government, is an investor in Indian low-cost carrier SpiceJet and group company Dubai Ports operates several cargo terminals in the south and west.
Another group company, Nakheel, has an equal joint venture with India's largest real estate developer, DLF Limited, to invest more than $10 billion in building two townships in India.
Low-cost carriers like SpiceJet were in a particularly good position, as they were also benefiting from greater aspirations of the large middle class, he said.
Istithmar, one of the big investment firms in the UAE, is also interested in airports and five-star and three-star hotels in India, but not retail, said Kamda, who visits India once a month, flying to the capital New Delhi.
14/06/07 Gulf Daily News, Bahrain

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Categories: Foreign Jun 2007, SpiceJet Jun 2007