Reports suggest that the West Asian company, Al Rostamani may buy a 25% stake in Gujarat Heavy Chemicals Ltd, or GHCL for USD 200 million.
Nikhil Sen, Head of International Strategy said that the West Asia initiative is an integral part of their strategy. However, he clarified that he cannot comment on the report of West Asian company's buying stake. Soda-ash is a very strong area of business for the company, he said. Sen added that the company is looking at bolstering both its soda ash and retail business in West Asia. The company is also in talks with some domestic and international companies regarding few verticals within India, he said. They may announce a deal in a few days, he said. (Money Control)