Mining in Vidharbha
NAGPUR: Australia is eyeing businesses in Vidarbha for investment opportunities, with a special interest in the mining sector. A few companies have already finalised deals for investment into coal mining ventures in the region. This includes a tie-up in mining services, such as contract mining, washeries and other allied services required in coal mining business.
Australia’s Senior Trade Commissioner Michael Moignard said the formal announcements are expected to be made in a few months time. Till then the names of the investors cannot be disclosed on account of commercial interests.
Moignard said this is part of a campaign — Utsav Australia — for strengthening trade ties with smaller centres of the country. The Australian Trade Commission held a seminar on investment opportunities in association with city-based Nag Vidarbha Chamber of Commerce (NVCC) on Friday. Apart from Australian investment, a couple of proposals for Indian investment in Australian coal mines were also finalised. One of these involves a firm from Gujarat, he said.
With mining being one of the key sectors in the region, there is scope for Australian firms to set up greenfield ventures in India. Indian companies too are taking up captive mining projects in Australia too. Indians can especially take up coking coal mining, which is in abundance in Australia and in great demand in India, said the trade commissioner. Australia on the other hand is also keen to invest in mining of gold diamond, bauxite and iron mining in India.
“Apart from it, the cargo hub and special economic zone too appear to have a number of investment opportunities. Back in Australia we would like to apprise companies about for deals in these ventures. There is big scope for investment in support services such as engineering services, aviation consultancy, management and so on,” Moignard added.
He described the health city coming up in the SEZ too as an attractive investment destination for infrastructure companies in Australia. Meetings are also being held with regional business guilds. This is because Australia is also keen to attract Indian investment.
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