Renewable energy cooperation agreed

The India-Oman Joint Commission held its 8th session on 16-17 July, 2018 in Muscat. The Omani Delegation was headed by Dr. Ali bin Masoud Al Sunaidy, Minister of Commerce and Industry and the Indian side was led by Minister of Commerce and Industry, Suresh Prabhu.

New Delhi is waiting for Muscat response to set up a 200 Giga-watt waste-to-energy project as India-Oman joint venture. It would be the largest of its kind plant in the world, processing 9,000 tonnes of Municipal Solid Waste per year.

This was disclosed following Commerce and Industry Minister Suresh Prabhu’s address to India-Oman Joint Business Council on 17 July 2018 in Muscat.

Both countries agreed on cooperation in the field of energy, especially renewable energy like wind and solar, during the 8th Session of the India-Oman Joint Commission on 16-17 July 2018.

Meanwhile, Oman has invited Indian investors in sectors like renewable energy and infrastructure.

Delegates from both countries, meeting 16-17 July bilateral meeting, agreed to obtain their respective internal approvals for early finalization of India-Oman Double Taxation Avoidance Agreement (DTAA).

The India Oman Bilateral Investment Treaty (BIT) is under revision. Meetings have been held during 2017 and 2018 on BIT and comments of the Omani side on the Indian Model BIT text are under consideration. fiinews.com

Tags: Commerce and Industry Minister Suresh Prabhu