Indian corporate houses have lined up investments worth $1 billion (around Rs 4,500 crore) in the Maldives, to fructify over the next two to three years. The houses include Tatas, Suzlon, GMR, Apollo Hospitals and Oberoi. “To attract more investment from India, the Maldivian government is planning to ease the procedures for India Inc and planning to offer various incentives,” said Ahmed Shaheed, the country’s foreign minister.
Essar Oil Ltd (EOL) is on track to complete expansion of its facility at Vadinar refinery in Gujarat to 16 million tonnes by December 2010, brokerage company IDFC-SSKI said in its report on the company while putting a price target of Rs 194 on its stock.