The Indian conglomerate Hinduja Group is considering investing USD one billion in several sectors in Africa during the coming five years, the Economic Times of India reported on 4 November, citing a manager of the company.

“We have significant plans for expansion in Africa. We are looking to invest USD one billion during the next five years”, the group’s president for Europe, Prakash Hinduja (photo), declared indicating that these investments will be geared towards the engine oils and chemical products manufacture as well as the trade and infrastructure fields.

“Africa is in our view a future market. This continent which is as big as India in terms of area and number of inhabitants will be our new growth frontier”, he added, without specifying which African countries were targeted as part of this expansion plan labelled “Go Africa”.

These investments should enable the Hinduja Group to bring the revenue from its African operations to USD 2 billion per year within 5 years against its current revenue which oscillate between USD 300 million and 400 million.

In the meantime, Ashok Leyland, the leading company of the group, is scheduling to increase the exports of buses and lorries to Africa from 12,000 to 25,000 units per year within 3 years.