Cabinet links to contractor SAAG-RR of Chennai
SAAG-RR Infrastructure of Chennai is a company the Indian oil sector is likely to hear more about very soon.
Unheard of till now, SAAG officials in April announced the company would aggressively pursue new business in two areas: refurbishment of oil platforms and construction of oil pipelines. Nothing unusual here, except that SAAG-RR is believed to be closely linked to the DMK, which has seven cabinet ministers in the government of Manmohan Singh, among them telecom minister Dayanidhi Maran.
Unconfirmed reports suggest DMK ministers are closely linked to SAAG-RRs Malaysian parent: SAAG Consolidated (M) BHD, official supplier to Petronas. On 3rd June last year, SAAG Consolidated (M) BHD bought Greenhands Infrastructure of Chennai and re-named it SAAG-RR.
Many believe its only a matter of time before SAAG-RR increases its modest annual turnover of Rs20cr ($4.5m) to something more substantial.