Hinduja Group Is One Of The Largest Diversified Groups In The World

As announced on 1st December’2009, India’s state-run oil exploration and production company Oil & Natural Gas Corporation Limited (ONGC) and Hinduja Group will invest $10 billion in gas
By: Siddharth Pandey
 
Dec. 22, 2009 - PRLog -- As announced India’s state-run oil exploration and production company Oil & Natural Gas Corporation Limited (ONGC) and Hinduja Group will invest $10 billion in the development of a liquefied natural gas (LNG) project and 2 massive gas field development projects in Iran. The consortium includes the project development company Ashok Leyland Projects Services Limited, which is one of the companies under the banner of The Hinduja Group and ONGC Videsh Limited (OVL), the overseas arm of ONGC. In exchange of this investment, India will acquire 6 million tons of LNG every year on a long-term basis.

OVL and ALPS will have in aggregate 40% participating interest for development of South Pars 12 gas field; ONGC, OVL, ALPS and Petronet LNG will take 20% equity in aggregate in the liquification facilities of Iran LNG, with possible enhancement of equity upto 40%. Investments in above ventures will be securitized through deposit of sovereign funds of Iran with Indian banks. Alternatively, the sale proceeds of crude oil supplies to Indian refineries may be used by Iran for such securitization as collaterals. The new involvement of Hinduja Group
in the LNG project, through their group company, Ashok Leyland Projects Services Ltd. (ALPS), is definitely going to be beneficial for India in every way.

About Hinduja Group
Built on the principles of philanthropy, The Hinduja Group is established on the strong belief of building bridges between past and present, between India and the world and between generations that are and generations that are yet to come. This company has spread its hands in almost all sectors. There are few well-recognized companies that are functioning under the banner of Hinduja Group and are performing extremely well in their respective genres.
Shri Paramanand Deepchand Hinduja founded the Hinduja Group  in 1914 and the initial operations were begun in Mumbai, India. The Hinduja Group is now owned by Srichand Hinduja and his brother Gopichand Hinduja. The main companies that fall under the banner of Hinduja Group are:
Ashok Leyland
Gulf Oil
IndusInd Bank
Hinduja Global Solutions
Hinduja Ventures
Hinduja Interactive
P D Hinduja Hospital and more.
End
Source:Siddharth Pandey
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Tags:Investment Banking, Global Investment
Industry:Business
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