NRI industrialist-run Aries Group is planning to foray into offshore oil, gas and petrochemical business in Kuwait. It will invest $1billion to fuel its robust growth project. Last year, the group’s Indywood consortium had initiated a $10-billion investment in India in the entertainment business. Last year, the group’s Indywood consortium had initiated a $10-billion investment in India in the entertainment business.
“We are looking at broadening our horizon in global oil, gas and petrochemical industry. We are looking at an additional investment in Kuwait,” Sohan Roy, Aries Group chairman, announced at the Kuwait Symposium. This would be to the tune of $1billion. In 2014, the UAE-based group had acquired actor Mohanlal’s Vismayas Max studio complex in Thiruvananthapuram, Kerala’s first DTS Studio. As part of its entertainment investment plan, Aries Group’s Indywood consortium had, last year, rolled out a string of movie production and multiplex projects, targeted to increase Indian cinema’s share in global cinema to 40%.