Goverment Of India

Foresight Group to invest $500 million in shipping and LNG sectors in India

USD 2 billion London-based shipping-to-retailing entity Foresight Group International plans to invest $500 million in India across offshore drilling, shipping, port terminal and LNG sectors in the next five years.

The main objective of the group Ravi K Mehrotra, a report in The Hindu said, is to build a reliable and cost-effective LNG supply chain for India to meet its energy requirement needs.

It quoted Ravi K Mehrotra, the founder and executive chairman of Foresight Group International, as saying: “Being an Indian, there’s no greater emotion than investing for the growth of our motherland. India always has had great prospects in terms of the LNG and port sectors.”

He added: “We will be making investments across various sectors in India with a long-term growth perspective.” Foresight has decided to invest $250 million for the development of LNG-related infrastructure in India, including vessels

Image Credit : porttoport.in