The Aditya Birla Group is venturing in Turkey with its proposed viscose staple fibre (VSF) plant with an investment of Rs 2,650 crore. With this, the Group will have pulp and fibre operations in seven countries. It has plants in Canada, Sweden, Thailand, Indonesia, China and India. Said Kumar Mangalam Birla, Chairman, Aditya Birla Group, "For us, VSF is a core business. Our aspiration is to significantly ramp up our global market share and our capacities by the turn of the decade. Establishing a world-class plant in Turkey is a step in this direction.

"The 1,80,000 tpa fully integrated plant will be developed in two phases with commissioning scheduled for 2015. The proposed plant will have a captive power plant, a carbon sulphide plant, and a sulphuric acid unit. Around 80 per cent of this VSF capacity will be sold to industries in Turkey and the rest exported to markets, including European Union and other neighbouring countries. During December 2011, GMR-led consortium commenced work on the new terminal at the Ibrahim Nasir International Airport in Maldives. Malaysian Airports is GMR's partner for the project, which is slated to be ready by 2014. The project estimated to cost Rs 2,652 crore envisages building two taxi-ways so as to increase the number of aircraft that can be handled by the airport. The terminal will be built on reclaimed land. The airport will eventually have a capacity to handle five million passengers per annum. Apart from this project, the Group has undertaken projects at Hyderabad, Delhi, and Istanbul.

Other than this, there were companies like L&T, ITC, JBF Industries which announced their overseas projects. ITC will set up a luxury hotel in Colombo at an investment of $300 million (approx Rs 1,539 crore). The government has approved $300 million FDI of the company enabling the hotel to be built on 5 acre on a 99-year lease. The Board of Investment of Sri Lanka will enter into an MoU with ITC, in order to execute the project under concessionary tax terms with permitted exemptions on investments. JBF Industries has signed an MoU with the Bahrain Industry and Commerce Ministry to set up a polyester plant in Bahrain, while L&T has signed a contract 695 million dirhams (approx Rs 973 crore) with Abu Dhabi Gas Industries for the construction of a gas pipeline in Abu Dhabi.