Birla Group to invest $200 mn in Mexican firm

MUMBAI: The Aditya Birla Group plans to invest $200 million in Mexico's carbon black industry over the next five to seven years, a top company official said on Tuesday.

"Entering Mexico will give us an access to both the North American and South American markets," Aditya Birla Group Global Business Head Rakesh Jain told media here.

The capacity of the Mexican business would be around 60,000 tons to a quarter of a million tons, Jain said, adding the project would take around two years to commission.

The Indian corporate group is also looking at the BPO business in the mining sector in Mexico, he said.

The Group's Chairman, Kumar Mangalam Birla, and its senior officials on Tuesday met Mexican President Felipe Calderon Hinojosa here. Hinojosa is on an official visit to India.

Reliance Industries Chairman Mukesh Ambani also met with the Mexican President, which he described as a courtesy call.

Tata Group officials, Tata Motors Managing Director Ravi Kant and Tata Tea Managing Director Percy Siganporia, also called on the visiting President.