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Tata group, Kuoni sign MoU for e-com company

Our Bureau

MUMBAI, March 30

TATA Industries Ltd and Kuoni Travel India have signed a memorandum of understanding (MoU) to create a new e-commerce travel company.

Kuoni and the Tatas will explore the possibility of partnering in various worldwide e-commerce initiatives of the Kuoni group. Under the agreement, Kuoni would be the fulfillment partner offering ticketing, visa and tourism services for the Tata travel p ortal being launched as part of internet initiatives of Tata Industries.

The new company, yet to be named, will create and market interactive web-based travel products, primarily to Indian markets and later to international markets.

Tata Industries has recently established an Internet Service Provider (ISP) company to enter the internet access and on-line services business.

Kuoni Travel recently acquired SITA World Travel India Ltd for Rs. 140 crores and with the announced merger of SITA and SOTC, Kuoni Travel India would be the number one travel company with a turnover in excess of Rs. 400 crores, the release said.