India Government Official: Taiwan Company Plans $1 Billion Investment

NEW DELHI-(Dow Jones)- A Taiwan-based telecommunications equipment maker is planning to set up a manufacturing facility in India, possibly involving an investment of over $1 billion, a senior government official said Monday.

"The telecom manufacturer may invest over $1 billion if its plan materializes," Department of Industrial Policy and Promotion Secretary Ajay Dua told reporters on the sidelines of the India Economic Summit.

The official, however, didn't name the company.

Dua said that the officials of the Taiwan company had met the Commerce and Industry Minister Kamal Nath to discuss their investment plans in India.

"They are looking at various possible sites including Tamil Nadu for their manufacturing base," said Dua.

He said that the Taiwanese company had a large presence in China and was making handsets to supply in other parts of the world.

-By New Delhi Bureau; Dow Jones Newswires; 91 11 23074020; djn.in@dowjones.com

-Edited by Marissa Chew

(END) Dow Jones Newswires "

Posted to the site on 28th November 2005