India: Kumar Mangalam Birla has said that the Aditya Birla Group will invest US$3.19bn in Gujarat State to ramp up capacities across various existing facilities.
"We will be continuing to grow our businesses here," said Birla. "On the anvil are brownfield expansions at our cement plant in Sevagram, the viscose staple fibre (VSF) plants in Vilayat and Bharuch and expansions of our metal plants, among others. Our investments will be close to US$3.19bn."
He added that Gujarat is the group's preferred investment destination in India. "We're greatly impressed by the proactive approach of Government of Gujarat. I have a personal bias for the state," said Birla. He added that it was not tax sops, but delivery of high-quality infrastructure that makes it the group's preferred state.