BL reported that Kolkata based RPG group will invest INR 9,000 crore in power, tyre and carbon black industries as part of its expansion program in the next couple of years.

Mr RP Goenka chairman of RPG group said that while the company would pump in INR 6,000 crore in the Calcutta Electric Supply Company in the 2 years, it has set aside INR 2,000 crore for Ceat Tyres and INR 1,000 crore in the Philips Carbon Black. He added that money would be invested in CSEC to raise its production to meet the needs of states like Jharkand, Orissa and West Bengal.

Mr Goenka said that the large investment was necessitated to compete in the fields following the government's liberalization, privatization and globalization policies. He added that it is aiming to increase productivity, quality and facilities to workers by the expansion.

Replying to a query regarding the INR 5,000 crore power project in Kannur, Mr Goenka said that he was forced to drop the project following lack of interest shown by the succeeding government.