London-based shipping-to-retailing conglomerate Foresight Group International plans to invest $500 million in India across offshore drilling, shipping, port and LNG sectors over the next five years. The family trust-owned group is committed to a long term purpose and will be making investments across various sectors in India with a long-term growth perspective, a communiqué issued by the group maintained on Thursday.
“India always had great prospects in terms of the LNG and port sectors since before Independence. We have previously made an investment of around $350 million in cyber rigs which are working with ONGC and $30 million in Pavers England branded retail, Group’s joint venture with Pavers Limited UK which was India’s number one FDI for single brand retail. Having this investment done, India will contribute to upto 44 per cent our global operations,” Ravi K Mehrotra, Founder and Executive Chairman, Foresight Group International, said.