Indian Ruia group eyes mining, energy, metals assets in Turkey

Today’s Zaman - Indian industrial conglomerate Ruia Group’s chairman, Pawan Ruia, has said Turkey is a priority market for his companies and that they are planning to enter the Turkish mining, energy and metals sectors through acquisitions.

Speaking at a press conference in İstanbul late on Wednesday, Ruia drew attention to his group’s recent purchase of Turkish automotive sealing parts manufacturer Standard Profil for EUR 180 million (USD 250 million). “ Standard Profil means a lot to us. It has a strategic importance for us to become a world leader in this industry,” he said. “Turkey is a priority market for us and we took the first step in with Standard Profil. Our new investment targets are the mining, energy and metals sectors,” he added. For him, Turkey is offering enticing opportunities to foreign investors with its steady growth and political stability. “The automotive sector grew by 18 percent in the first quarter of this year. Our plan in the face of such growth is not to move our investments in other countries to here, but to integrate the high-tech ability of our companies outside Turkey into the production facilities we will establish here in Turkey and create employment opportunities and produce a new and better economic value here,” he said.
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