Dubai-based Lootah Group to set up subsidiary in India
The UAE-based multi billion dollar business conglomerate SS Lootah Group on Wednesday announced its foray into India by unveiling its plan to open a wholly-owned subsidiary this year.
By PTI |
NEW DELHI: The UAE-based multi billion dollar business conglomerate SS Lootah Group on Wednesday announced its foray into India by unveiling its plan to open a wholly-owned subsidiary this year.
The subsidiary, which will be an arm of the Group's international operations under SS Lootah International, signed two Memorandum of Understanding (MoU) with Hyderabad-based IVRCL Infrastructure and Projects Ltd to explore infrastructure development opportunities across India and the region, the Dubai-based company said in a release.
Commenting on the MoU, SS Lootah Group Vice Chairman Yahya Lootah said, "The partnership with IVRCL is the first step in the Group's India strategy and the office here will serve as a platform to explore opportunities here and ASEAN countries."
He said that the Indian operations of SS Lootah would focus on key growth sectors including infrastructure, services, manufacturing and knowledge economy.
"We are also proud to be the first private sector entity from UAE to set up a permanent base in India," Yahya Lootah added.
The subsidiary, which will be an arm of the Group's international operations under SS Lootah International, signed two Memorandum of Understanding (MoU) with Hyderabad-based IVRCL Infrastructure and Projects Ltd to explore infrastructure development opportunities across India and the region, the Dubai-based company said in a release.
Commenting on the MoU, SS Lootah Group Vice Chairman Yahya Lootah said, "The partnership with IVRCL is the first step in the Group's India strategy and the office here will serve as a platform to explore opportunities here and ASEAN countries."
He said that the Indian operations of SS Lootah would focus on key growth sectors including infrastructure, services, manufacturing and knowledge economy.
"We are also proud to be the first private sector entity from UAE to set up a permanent base in India," Yahya Lootah added.
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