Saudi Arabia will invest $ 100 billion in India

Saudi Arabia to invest USD 100 billion in india

HIGHLIGHTS

Saudi Arabia plans to invest in sectors such as petrochemicals, infrastructure and mining
Saudi Arabian oil company Aramco proposes partnership with Reliance Industries

Saudi Arabia will invest $ 100 billion, said- want long partnership with India

Saudi Arabia to invest USD 100 billion in India

Worldnews: Saudi Arabia, the world's largest oil exporter, has decided to invest $ 100 billion (about Rs 7 lakh crore) in India. Saudi Arabia has plans to invest in several sectors, including petrochemical, infrastructure and mining, given the growing economic prospects in India. Ambassador of Saudi Arabia Dr. Saud bin Mohammed Al Sati said on Saturday that we are keen to have a long partnership with India.

Saudi Arabia to invest USD 100 billion in india

Mohammed Al Sati said, "Saudi Arabia's largest oil company Aramco has proposed a partnership with Reliance Industries Limited. Cooperation in energy is increasing between the two countries. He said that Aramco's global strategy is to invest in the oil supply, petrochemicals and lubricants sector in India.

Vision will increase trade between the two countries by 2030

He said, "Against the backdrop of this agreement, Aramco plans to invest $ 44 billion in India's energy sector at West Coast Refinery and Petrochemicals Project in Maharashtra. The long partnership with Reliance shows that the trade agreement with the two countries has proved to be a milestone. ”He said that the vision of Saudi Crown Prince Mohammed bin Salman would increase trade between India and Saudi Arabia from 2030.

40 opportunities for investment discovered in both countries

He said that in 2019 more than 40 opportunities for joint partnership and investment in various sectors between India and Saudi Arabia have been identified. Under Vision 2030, Saudi Arabia plans to expand its economy to diverse sectors by removing economic dependence on petroleum products. Saudi Arabia is a strong pillar of India's energy security. India buys 17% of its crude oil and 32% of LPG from Saudi Arabia.

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