German firm from chemical sector to invest $1.5 bn in India: Piyush Goyal

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German firm from chemical sector to invest $1.5 bn in India: Piyush Goyal - Business Standard

Quick Summary:

Commerce and Industry Minister Piyush Goyal on Saturday said a German company from the chemical sector has decided to invest USD 1.5 billion in India, and a state has identified land for the project.

The company will "have the allotment of land in his hand, and we will have a billion-and-a-half dollars of foreign direct investment coming into the country over the next 12 months", Goyal said at a session of the Union Internationale des Avocats (UIA) here.

Though the minister did not disclose the name of the company or the state, he said that the company's head is expected to meet the state's chief minister on Sunday.