India: serious business
Indian transactions are growing quickly in the region, as witnessed by the number of transactions with Central America, Colombia and Mexico in only the last six months.
NaanDanJain Irrigation won a $24 million contract from the Honduran government
The company is a division of Mumbai-based Jain Irrigation Systems Limited, whose solutions include micro-irrigation systems, renewable energy generation, and tissue culture programs.
Jain Irrigation provides services to more than 4 million farms, through 30 operations in over 120 countries, generating 2016 revenue of $1 billion.
Gulf Oil International announced plans to invest in gas stations in Mexico.
Gulf Oil International is a division of United Kingdom-based Hinduja Group, a conglomerate with extensive Indian operations, which generate revenue estimated to exceed $25 billion.
The company owns rights to the Gulf brand worldwide, except for the United States, Spain and Portugal.
Gravita Nicaragua inaugurated the second phase of a plastic recycling operarion in Nicaragua.
The $2 million investment will allow monthly production of up to 900 tonnes of export-quality plastic material for markets in the United States, Europe and Asia.
Gravita Nicaragua is a division of Gravita India Limited, founded in 1992 and based in Jaipur, with operations in several countries around the world.
Mahindra Group inaugurated a $25 million tractor assembly and distriburion operation in Aguascalientes, Mexico.
Founded in 1945 and headquartered in Mumbai, Mahindra is the biggest tractor maker in the world, and one of the largest vehicle manufacturers in India.
The company, which employs around 40,000 people in 100 countries, has revenues of around $13 billion.
TVS Group signed a distribution agreement with Guatemala-based Masesa of for the distribution in Central America of Indian-made two- and three-wheeler vehicles.
Masesa, which will be responsible for marketing and distribution, expects to have about 500 points of sale, service and spare parts for TVS vehicles, especially three-wheelers, and including scooters, and motorcycles with a capacity of between 110 and 200 cc.
Founded in 1948 and based in Chennai, TVS last year had sales of close to $2 billion.
Spark Minda-Ashok Minda Group inaugurated a $25 million autoparts plant in Queretaro, Mexico.
Based in Haryana State near New Delhi, Minda Group develops components and technology for automakers and parts producers in Germany, Poland, Czech Republic, China, Indonesia, Japan, Uzbekistan and Vietnam, as well as India.
Founded in 1958, the group has some 16,000 employees.
ONGC Videsh will invest $150 million in oil-field exploration in three countries, including Colimbia, where the company has made a commercial discovery at its Mariposa 1 operation.
The company owns 70% of a license to exploit Colombia’s CPO-5 block, located in the Los Llanos Basin, with the remaing 30% stake in held by United-Kingdom based Amerisur Resources.
ONGC Videsh has a participating interest in six Colombian blocks, including one with a daily output of 35,000 barrels.
The company is a division of Oil and Natural Gas Corporation, India’s largest oil and gas exploration and production company, controlled by the Ministry of Petroleum and Natural Gas.