UAE plans investment of $1 bn in infrastructure

BANGALORE: The Ras Al Khaimah government of UAE is planning to invest $1 billion over the development of township and infrastructure projects in India in two years. Ras Al Khaimah, which is one of the seven emirates that form the United Abrab Emirates is particularly looking at south including tier II cities like Coimbatore for township projects.

The government is also looking at establishing an air connectivity between Ral Al Khaimah and India. The Ras Al Khaimah investment authority is planning to file application with the union civil ministry next month for operating the RaK Air airline to India.

Currently Ras AL Khaimah investment authority operates two ceramic plants-Rak Ceramic near Kakinada in Andhra Pradesh. It also has 12 ceramic showrooms across India and plans to add 50 more showrooms with an investment of $25 million.

Speaking on the sidelines of CII partnership summit in Bangalore Sheikh Sud Bin Saqr Al Qasimi the crown prince and deputy ruler of Ras Al Khaimah said, "We want to partner with India in various economic development opportunities and we are also opening gateways for investment in Ras Al Khaimah." Three hospitality majors in India have also shown interest for developing hotels in the Ras Al Khaimah region.