malaysian companies target indian energy sector
News Posted On: 12 August 2011
Malaysian companies have already been active within the Indian property market, and have done much to improve the infrastructure within the country, and now they are setting their sights on the billion-dollar energy sector. It is expected that the power sector within India will attract investment worth US$300 billion by 2017, and Malaysian companies are ideally placed to profit from the huge opportunities represented by this investment.
The companies already operating in the country are well respected for their expertise and skills, and this should make it significantly easier for Malaysian energy companies to enter the market. There are already a considerable number of foreign power and energy companies in India, but there is still plenty of scope for expansion.
India has an enormous demand for power, and is currently the world's sixth largest energy consumer accounting for around 3.4% of worldwide energy consumption, while an average growth of 3.6% annually is being predicted.
The Malaysia India Comprehensive Economic Cooperation Agreement came into effect on July 1 and should help ease the participation of Malaysian companies through strategic tie-ups and partnerships with Indian companies. At the moment India's existing energy capacity is 175,000 MW, of which 65% is thermal energy, around 22% is hydro, while just 3% is renewable energy. Malaysian companies are expected to concentrate on renewable energy which is a rapidly expanding sector in Malaysia. At the moment the renewable energy business in Malaysia is capable of producing 10,000 MW of wind power. India is also upgrading its voltage give additional opportunities for technology development.
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Written by Les Calvert
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