Sunday, June 1, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Industry Sectors

Saudi Arabia looking to invest US$100bn in India, says Envoy

Fiinews by Fiinews
September 30, 2019
in Industry Sectors, Investment, Manufacturing, Projects
Reading Time: 2 mins read
A A
0
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

More than 40 opportunities identified

 

Saudi Aramco.. the world’s leading oil supplier.

Saudi Arabia sees India as a potential high growth market and is looking to invest US$100 billion in petrochemicals, infrastructure and mining among others, considering the country’s growth potential.

Saudi Ambassador Dr Saud bin Mohammed Al Sati has said India is an attractive investment destination, and the kingdom is eyeing long-term partnerships with New Delhi in key sectors such as oil, gas and mining.

“Saudi Arabia is looking at making investments in India potentially worth US$100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining,” Al Sati told Press Trust of India in an interview.

Saudi Aramco’s proposed partnership with Reliance Industries Ltd reflected the strategic nature of the growing energy ties between the two countries.

Investing in India’s value chain from oil supply, marketing, refining to petrochemicals and lubricants is a key part of Aramco’s global downstream strategy, said the Ambassador.

“In this backdrop, Saudi Aramco’s proposed investments in India’s energy sector such as the US$44 billion West Coast refinery and petrochemical project in Maharashtra and long-term partnership with Reliance represent strategic milestones in our bilateral relationship,” PTI quoted the Ambassador as saying.

Vision 2030 of Crown Prince Mohammed bin Salman will also result in significant expansion of trade and business between India and Saudi Arabia in diverse sectors.

The Vision is to diversify the Saudi economy while reducing its economic dependence on petroleum products.

More than 40 opportunities for joint collaboration and investments across various sectors have been identified between India and Saudi Arabia in 2019, the Ambassador pointed out.

“There is huge untapped potential available in merchandise trade, particularly in non-oil trade and we are enhancing cooperation in economic, commercial, investment, cultural and technological fields,” the envoy said.

The Saudi-India bilateral have grown beyond the supply of energy to a more comprehensive partnership with focus on investments and joint ventures in petrochemical complexes and cooperation in exploration.

“India’s invitation to Saudi Arabia to invest in its strategic petroleum reserve reflects the trust and goodwill the two countries share,” Al Sati said.

The current bilateral trade of US$34 billion will undoubtedly continue to increase, he added.

Saudi Arabia supplies 17% or more of crude oil and 32% of LPG of India’s total oil imports. fiinews.com

Tags: Reliance Industries LtdSaudi Aramco
ShareTweetShare

Related Posts

Make In India
Projects

Project: Trial of defence systems underway

by Fiinews
June 1, 2025
0
12

Wide array of advanced technologies being tested The Indian Army is currently undertaking extensive Capacity Development Demonstrations at key locations...

Aai
Projects

Project: Satna-Datia airports inaugurated

by Fiinews
June 1, 2025
0
13

Airports for progress of Bundelkhand and Baghelkhand regions In a major milestone for regional connectivity and infrastructure development, Prime Minister...

Afcons

Project: PM inaugurates Afcons Kanpur metro

June 1, 2025
13
CII

Invest: Economy set for growth for 30 years

June 1, 2025
20
PIB

Manufacturing: Private sector to get opportunities  

June 1, 2025
14
PIB

Project: NHAI starts trial runs on NH48 tunnel

May 30, 2025
12
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Project: Trial of defence systems underway
  • Project: Satna-Datia airports inaugurated
  • Tech: India is IT capital of the world
  • Project: PM inaugurates Afcons Kanpur metro
  • Export: India-Chile start trade talks

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.