NEW DELHI: Malaysian engineering and transport equipment maker Scomi Group plans to invest $500-600 million a year for the next seven years in Indian railway projects, its top executive said.
"India is very big business for us. We are taking a long term view on it," said Kanesan Veluppillai, president of the group's international division.
The company, which is constructing the Mumbai monorail project in a JV with L&T, said investments would mostly be used in setting up manufacturing facilities for monorail and other railway projects. "We are looking at monorail projects in the short term and other railway projects in the long term," he said.