The Hindu : Andhra Pradesh News : TGV Group to set up joint venture in Sri Lanka

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Saturday, Feb 10, 2007
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Andhra Pradesh

Andhra Pradesh

TGV Group to set up joint venture in Sri Lanka

Special Correspondent

Proposed unit to manufacture sulphuric acid

Sri Lankan delegation inspects Rayalaseema Alkalies' unit

Phosphate deposits to the tune of 60 million tonnes in Sri Lanka

KURNOOL: The Kurnool-based TGV Group, in collaboration with the Sri Lankan Government, will set up a sulphuric acid manufacturing unit there as a joint venture.

Sri Lankan Minister of Industrial Development Kumara Welgama inspected the Rayalaseema Alkalies and Rayalaseema Hi-strength units at Gondiparla on the outskirts of the city and held discussions with Group chairman T.G. Venkatesh on Friday.

The group also gave a proposal for investment of Rs. 1,000 crores in Sri Lanka for setting up chemical, PVC and power generation units. Mr. Welgama told reporters that the Sri Lankan Government would have 51 per cent share in the joint venture.

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