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Anil Ambani group looks for presence in Gulf region

Anil Ambani group looks for presence in Gulf region
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First Published: Sun, Jun 01 2008. 12 09 PM IST
Updated: Sun, Jun 01 2008. 12 09 PM IST
PTI
Dubai: Indian conglomerate Reliance ADAG, headed by Anil Ambani, is keen on having a presence in sectors ranging from power to finance in the Gulf region and is open to partnerships with regional players.
The group is looking at opportunities in sectors such as telecom, power, film entertainment and financial services, according to Group Managing Director Gautam Doshi.
“We are looking for opportunities. A general interest is there in the Gulf area,” he was quoted as saying in Gulf News.
Reliance Capital, the group’s financial services company, has applied for a licence to operate from the Dubai International Finance Centre.
The company hopes to tap the large Indian client base in the UAE for selling products like mutual funds and insurance policies.
Doshi said Reliance is also keen to develop power projects in the region. He said the group is willing to join hands with Arab investors and use Gulf money in its overseas acquisitions. “We can look at Gulf money whether it is equity, debt or a combination of both, or some other form in which we do a partnership,” he said.
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First Published: Sun, Jun 01 2008. 12 09 PM IST