DOHA: Quality Group International, one of the leading Qatar-based Indian companies, has announced to invest QR55m in the Southern Indian state of Karnataka this financial year.
The entire amount will be invested in retail and infrastructural development projects as part of the NRI (Non-resident Indian) investment programme initiated by the state government, according to a statement yesterday.
Quality Retail Group and Quality Engineering Company, two prominent divisions of the Group has already set its foots in Bangalore, the state’s capital city. The Company started its expansion in the state from March 2015 with Quality Mart the first hypermarket situated at Kasthuri Nagar area.
Shamsudheen Olakara, Chairman of the Company, said: “Two divisions of the engineering company also started this year. Fourth project for Karnataka is in retail field at NRI Layout area of Bangalore city. It is expected to be completed in the coming March.”
Shamsudheen met with Governor of Karnataka, Vajubai Vala and other senior officials of the industrial and trade department of the state last week and discussed about the future expansions plans of the company in Karnataka.
The state government promised to extend its support to the company to invest in different areas of the developmental projects in the state.
“We consider South India as a very important market for us and our experience of success and accomplishment 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,” said Shamsudheen.
