South Australia beckons Indian investors

The South Australia province invited Indian investors to tap the huge potential of the largely unexplored mining sector along with education and renewable energy segments.

“We are going very strongly in the mining area to diversify the economy. There are vast mining areas which are very underexplored,” South Australia premier Mike Rann said.

“India is our big trading partner. Not only in buying our minerals, we would like to have Indian presence in the exploration and development of the mines. I think there are enormous opportunities for investors,” he added.

He said already 30 million Australian dollars have been spent in exploration and the state now has 13 mines with 30 more slated to come up in the near future.

“With those mines coming up, it will be $1.4 trillion resource with mine life of 100 years. There would also be a huge uranium mine as well as fairly big copper mines and the world’s biggest gold mine, all in this giant resource,” Rann said.

The premier also invited investors in segments like defence, education and renewable energy.

He said overseas students, especially from India, could go to South Australia’s capital Adelaide, which is an education city with several world class universities.

“Along with high standard Australian degrees, the universities in collaboration with British and American universities also give out British and American degrees. We are very keen to welcome overseas students, especially from India,” he said.

On the issue of racial attacks on Indian students, Rann said: “Such attacks have not happened in my state. We put a big effort in ensuring the safety and security of the overseas students.”

The premier also asked investors to venture into renewable energy.

“At present, 54 percent of Australian wind power is produced by our state and we are very delighted to have an Indian company Suzlon investing a huge sum and helping us in the rollout of wind power. I hope to see more Indian players in the field.” (IANS)