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Qatar based Indian company Quality Group International will invest equivalent to QR55mn in the Karnataka state in India, this financial year.
The investment will be in retail and infrastructural development projects, as part of the Non Resident Indian (NRI) investment programme of the state government, Quality management announced yesterday.
Quality Retail Group and Quality Engineering Company, two divisions of the Group, have already started their operations in Bengaluru city.
The company started its expansion in the South Indian state from March 2015 with Quality Mart, the first hypermarket in Kasthuri Nagar. Two divisions of the engineering company were also started this year.
Fourth project for Karnataka is in the retail field at the NRI layout area of Bengaluru. It will be completed in March 2016, Shamsudheen Olakara, chairman of the company, said.
Olakara had met with the governor of the state Vajubai Vala as well as the senior officials of the industrial and trade department last week and discussed the future expansion plans of the company in Karnataka.
The state government has promised its support to the Quality Group for investment in diverse areas to become part of the developmental projects of the state.
“We consider South India as a very important market for us and our experience and accomplishments in the retail and engineering industries are sure to help us become the most popular brand in the region. We are also planning to invest in retail and agriculture sector of Kerala” Olakara added.
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