SoftBank's investments may surpass $10 billion

PTI

Having made a string of technology investments in India, Japanese telecom and Internet giant SoftBank has said its investments in the country will top USD 10 billion in 5-10 years.

SoftBank, which owns one of Japan's biggest mobile carriers and a controlling stake in US-based Sprint Corp, will make its first USD 350 million investment in a solar project in India, its Chief Executive Masayoshi Son told PTI here.

"We have already invested USD 2 billion and we are interested in investing more," he said. "India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments."

Son said SoftBank is looking at accelerating the pace of investments in future.

"We also made a first move on solar energy. We are making USD 350 million investment in first project in solar (in India). We will expand. In next 5-10 years, we will definitely make probably around USD 10 billion of investments," he added.

In June last year, SoftBank announced a joint venture with Bharti Enterprises and Taiwan's Foxconn Technology Group to generate 20 gigawatts of renewable energy. This would entail the three partners investing about USD 20 billion.