Sri Lanka to get investments from India’s Mahindra group

Aug 18, 2010 (LBO) – India’s Mahindra and Mahindra group is planning to make investments in Sri Lanka initially in tourism and financial services and also increasing vehicles sales in the island, an official said. “Sri Lanka can provide a platform for large multinationals like us,” Anand Mahindra, Vice Chairman and Managing Director of the Mahindra Group told a news conference Wednesday.

“There is a feeling of Sri Lanka being on the move.”

Mahindra was in Colombo for two days of talks with the government to explore investment opportunities in post-war Sri Lanka.

Mahindra said the company plans to send a bigger team representing all 10 sectors of the group’s businesses soon for talks with the Board of Investment, the island’s investment promotion agency.

A company statement said the Mahindra group’s future plans for Sri Lanka include expanding its range of tractors and vehicles sold in the island through its partner Ideal Motors, and offering agricultural implements.

A group unit Mahindra Holidays and Resorts is planning to expand into Sri Lanka as
more and more Indians are interested in travelling to the island, it said.

Ananda Mahindra said the group plans to eventually invest in th