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http://www.financialexpress.com/news/Oman-to-help-India-in-infrastructure-projects/701477/
The $ 100 million India-Oman Joint Investment Fund would be raised to $ 1.5 billion and would be deployed for infrastructure projects in India, according to the visiting foreign minister of Oman, Yusuf bin Alawi bin Abdullah.
India would be invited by the GCC countries in discussions about security issues for the Gulf region. Also Iran, Iraq, Pakistan, US, EU countries, China and Russia would also be invited.
“We cannot secure that important area of supplying energy to the world without collective efforts to maintain security and peace in the region,” he said in a joint press conference with the Indian minister for external affairs, SM Krishna in New Delhi on Wednesday.
During The last visit of the Indian Prime Minister Manmohan Singh to Oman in November 2008 a MoU for setting up of a India-Oman Joint Investment Fund was concluded. The fund would have a seed capital of $ 100 million and the amount can be raised to $1.5 billion as per requirement. Detailed documents have already been signed in the presence of the Indian Finance Minister, Pranab Mukherjee and the visiting Omani Minister of National Economy on the July 15, 2010. The fund would be established in Mumbai and will be jointly managed by the State Bank of India and the Oman State General Reserve Fund.
“We have agreed that this fund is going to be invested both in Oman and India. But of course we would like very much that fund to participate in the infrastructure projects in India. This money which has been planned for is not the end of that fund, but depends on the size of projects which the fund would be addressing in India or in Oman.
Besides, we believe that this will initiate public funds from the people to be also supported this fund for larger projects, big projects, particularly in the road sector. And the power generation sector would be probably the first priority for the fund and other investors,” said Abdullah.
The Omani foreign minister lauded India’s success in hosting the 19th Commonwealth Games and on being elected as a non-permanent member to the UN Security Council.
The Indian minister for external affairs, SM Krishna said : “We had broad-ranging discussions on recent developments in our bilateral relations especially in the economic and commercial fields where our relationship has grown exponentially in the last few years. Our bilateral trade now amounts to $ 4.5 billion and...
The $ 100 million India-Oman Joint Investment Fund would be raised to $ 1.5 billion and would be deployed for infrastructure projects in India, according to the visiting foreign minister of Oman, Yusuf bin Alawi bin Abdullah.
India would be invited by the GCC countries in discussions about security issues for the Gulf region. Also Iran, Iraq, Pakistan, US, EU countries, China and Russia would also be invited.
“We cannot secure that important area of supplying energy to the world without collective efforts to maintain security and peace in the region,” he said in a joint press conference with the Indian minister for external affairs, SM Krishna in New Delhi on Wednesday.
During The last visit of the Indian Prime Minister Manmohan Singh to Oman in November 2008 a MoU for setting up of a India-Oman Joint Investment Fund was concluded. The fund would have a seed capital of $ 100 million and the amount can be raised to $1.5 billion as per requirement. Detailed documents have already been signed in the presence of the Indian Finance Minister, Pranab Mukherjee and the visiting Omani Minister of National Economy on the July 15, 2010. The fund would be established in Mumbai and will be jointly managed by the State Bank of India and the Oman State General Reserve Fund.
“We have agreed that this fund is going to be invested both in Oman and India. But of course we would like very much that fund to participate in the infrastructure projects in India. This money which has been planned for is not the end of that fund, but depends on the size of projects which the fund would be addressing in India or in Oman.
Besides, we believe that this will initiate public funds from the people to be also supported this fund for larger projects, big projects, particularly in the road sector. And the power generation sector would be probably the first priority for the fund and other investors,” said Abdullah.
The Omani foreign minister lauded India’s success in hosting the 19th Commonwealth Games and on being elected as a non-permanent member to the UN Security Council.
The Indian minister for external affairs, SM Krishna said : “We had broad-ranging discussions on recent developments in our bilateral relations especially in the economic and commercial fields where our relationship has grown exponentially in the last few years. Our bilateral trade now amounts to $ 4.5 billion and...
