Suncity Projects is a major player in development of industrial parks and special economic zones
The Action Group is a 40-year-old highly diversified business conglomerate, with a major presence in India across a broad range of industries.
These include the real estate development company Suncity Projects, which is a major player in development of industrial parks and special economic zones (geographic areas earmarked for intensive economic development with local rules to promote export and development, similar to South Africa's industrial development zones).
The company is also active in the retail, office, hotel and residential development industries.
Electronics (through Microtek, the largest manufacturer of inverters in India), footwear (though Action Shoes, the largest footwear manufacturer in India) as well as medium-density fibreboard (MDF) and particle board manufacturing (through Action TESA, again the largest manufacturer in board manufacturing in India) are also part of the conglomerate's manufacturing portfolio.
In addition, flex manufacturing (through Pioneer Flex, the largest flex manufacturer in India), plasticisers manufacturing (through API Chemicals, the third largest plasticisers manufacturer in India), steel and sponge iron plants, hydro power, solar power and a cancer and heart hospital called Sri Balaji Action Medical Institute complete the picture.
South African investments
The group has been actively investing into South Africa for the past four years, across a selection of different sectors and opportunities. Currently Action is involved with handful of business ventures in South Africa's mining an industrial infrastructure sectors.
These include Insa Coal Holdings, Incubex Minerals and a mega industrial integrated township in KwaZulu-Natal.
Following its success in India, the group ventured outside India in 2009 by incorporating a coal mining and exploration company in South Africa. The group owns 50% stake in the company, called Insa Coal Holdings, and the remaining 50% is owned by a local black-owned company.
The company was incorporated in 2009 and been intensely involved in building a strong portfolio of coal assets in South Africa. A dedicated group of professionals under the strong leadership of Action and the local partner have consolidated 34 greenfields coal projects to potentially deliver more than 2.25-billion tonnes of coal.
Insa is currently carrying out exploration studies and drilling to take these projects to the next level. In 2011, the group acquired a stake in the multi-mineral exploration and mining company Incubex Minerals.
Incubex holds multiple prospecting rights in gold, platinum, tin and coal, as well as a controlling stake in a running silica mine. The company recently consolidated to become the single largest shareholding in a listed coal mining company.
Dube Tradeport Corporation, a schedule 3C provincial public entity in KwaZulu-Natal, and the Action Group signed a memorandum of understanding on March 26 during the Brics Summit to jointly develop a mega industrial integrated township as part of the Aerotropolis project near King Shaka International Airport in Durban. The project will develop an area of approximately 240 hectares through an investment of approximately R2-billion. Further details of the project will be made public soon.
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