Saudi Arabia looking at $100-billion investment in Indian petrochemicals, infrastructure and mining

[Furious]

At a time when India is facing a slump in the economy, Saudi Arabia, the world’s biggest oil exporter, is likely to invest $100 billion in areas of petrochemicals, infrastructure and mining among others, considering the country’s growth potential.

In an interview to news agency PTI, Saudi Ambassador Dr Saud bin Mohammed Al Sati said that the Arab nation 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 $100 billion in the areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining,” Al Sati said.

This comes on the heels of a partnership between the country’s biggest oil giant Aramco and Reliance Industries Ltd, which reflects the strategic nature of the growing energy ties between the two countries. “Saudi Aramco’s proposed investments in India’s energy sector such as the $44 billion West Coast refinery and petrochemical project in Maharashtra and long term partnership with Reliance represent strategic milestones in our bilateral relationship,” the ambassador said.

Saudi Arabia is a key pillar of India’s energy security, being a source of 17 per cent or more of crude oil and 32 per cent of LPG requirements of India.


Meanwhile, the envoy also said that the vision 2030 of Crown Prince Mohammed bin Salman will also result in a significant expansion of trade and business between the two nations. The envoy highlighted that more than 40 opportunities for joint collaboration and investments across various sectors have been identified in 2019, adding the current bilateral trade of USD 34 billion will undoubtedly continue to increase.

“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,” Al Sati noted.

Talking about ‘Vision 2030’, Al Sati said Saudi Arabia is working towards transforming its economy and looking at a post-oil age of world-class technological research, start-up and entrepreneurial vigour. The country is in the process of shifting its dependency on oil and diversify the Saudi economy.

“The entire development strategy of the kingdom rests on three pillars – to build a vibrant society, a thriving economy and an ambitious nation,” he said. “The World Bank too has ranked the kingdom as the fourth largest reformer within G20. The number of foreign investment licenses granted in Saudi Arabia in the first quarter of 2018 increased by 130 per cent,” he said.

https://indianexpress.com/article/b...ochemicals-infrastructure-and-mining-6038636/

https://www.khaleejtimes.com/business/economy/saudi-arabia-to-invest-100b-in-india

 

[aziqbal]

anyone else think that Saudi is Pakistans friends?

the Saudis dont even help their poor Palestinian brothers who are Arab and speak the same language why on earth would they help Pakistan and Kashmir?

Our Prophets words are becoming true the tallest buildings are now there, the closer the times comes the stronger our faith should become, Arabs have lost it

Saudi has a motive and its not a good one, if they have abandoned their religion we cannot abandon ours

As Pakistani we speak and fight against anyone who attacks islam, either we win or day of judgement arrives one or the other, either in Bosnia, India, China or Palestine first comes islam then comes the rest

 

[Furious]

anyone else think that Saudi is Pakistans friends?

the Saudis dont even help their poor Palestinian brothers who are Arab and speak the same language why on earth would they help Pakistan and Kashmir?

Saudi has a motive and its not a good one, if they have abandoned their religion we cannot abandon ours

As Pakistani we speak and fight against anyone who attacks islam, either we win or day of judgement arrives one or the other, either in Bosnia, India, China or Palestine first comes islam then comes the rest

This is a purely strategic business deal. They know that they cant keep relying on oil forever. And India is the only stable large economy that can absorb huge Saudi investments and give a profit in the long term. And especially when the Middle East is war prone, its better to invest in India. Also its the right time to invest as prices are down due to slump and it will only take off from now. They are just looking out for their own country's interests.

 

[BATMAN]

anyone else think that Saudi is Pakistans friends?

the Saudis dont even help their poor Palestinian brothers who are Arab and speak the same language why on earth would they help Pakistan and Kashmir?

Our Prophets words are becoming true the tallest buildings are now there, the closer the times comes the stronger our faith should become, Arabs have lost it

Saudi has a motive and its not a good one, if they have abandoned their religion we cannot abandon ours

As Pakistani we speak and fight against anyone who attacks islam, either we win or day of judgement arrives one or the other, either in Bosnia, India, China or Palestine first comes islam then comes the rest

Why not? are you trying to tell us that it's equivalent to Iranian terrorism in Pakistan.
Iran is full of Indian expats, and even a port of Iran is owned by Indian state.
No one objected Iranian choices of doing business, than why now?
Still if any one believes than he is in his own right to believe.
Saudi lately helped Pakistan with billions of aid dollar and has always had.
Pakistan politicians have always channeled Saudi aid to Iran.
It would be much better, if action is taken against those Pakistanis who are carrying bags full of $ to Iran ever since un-Islamic revolution.

 

[aziqbal]

This is a purely strategic business deal.

yeah heard that before

Israel said that about India too and US says same about Israel

its just coming full circle

Why not? are you trying to tell us that it's equivalent to Iranian terrorism in Pakistan.
Iran is full of Indian expats, and even a port of Iran is owned by Indian state.
No one objected Iranian choices of doing business, than why now?
Still if any one believes than he is in his own right to believe.
Saudi lately helped Pakistan with billions of aid dollar and has always had.
Pakistan politicians have always channeled Saudi aid to Iran.
It would be much better, if action is taken against those Pakistanis who are carrying bags full of $ to Iran ever since un-Islamic revolution.

Iran is our neighbour and will be our neighbour even after 100 years

we dont need another war in the Western side, Iranian people helped Pakistan a lot in 1965 and 1971

 

[Furious]

yeah heard that before

Israel said that about India too and US says same about Israel

its just coming full circle

Well thats the bulk of it. But with such huge investments its imperative that military and geopolitical interests will converge. That will happen over time. And we can really see that trend picking up. UAE and Saudi are gravitating towards India.

 

[Battle of Waterloo]

 

[Dexon]

And some Pakistanis want pak soldier die for Saudis. And blame IK for negotiating with the Iranians.it seems first thing lose from students of Saudis madrasa in Pakistan is Self-esteem...

 

[BATMAN]

Iran is our neighbour and will be our neighbour even after 100 years

we dont need another war in the Western side, Iranian people helped Pakistan a lot in 1965 and 1971

Iran is indeed our neighbor, i seriously hope the feeling is mutual.
We have always ignored Iran's threats and target killings. smuggling of weapons, sectarian promotion, interfering in Pakistan's internal affairs, trying to steal from Pakistan using Zardari and Benazir Bhutto.
Pakistan supplied Iran with nuclear technology and no wonder if their missile technology is also a covert help from Pakistan.

And some Pakistanis want pak soldier die for Saudis. And blame IK for negotiating with the Iranians.it seems first thing lose from students of Saudis madrasa in Pakistan is Self-esteem...

Die for Saudi? Our soldiers are being killed by networks being operated from Iran. Our Zardari regime sent thousands to Iran for militancy training so that all Quran learning children may be beheaded, which actually happened in Rawalpindi Juma prayer attacks.

Well thats the bulk of it. But with such huge investments its imperative that military and geopolitical interests will converge. That will happen over time. And we can really see that trend picking up. UAE and Saudi are gravitating towards India.

I think anti Saudi propaganda on social media is having it's toll on Pak-UAE relations.
Pakistan indeed is made to loose big time by the Iranian mafia in Pakistan paddling the 5th generation warfare against GCC, on behalf of India.

 

[Furious]

I think anti Saudi propaganda on social media is having it's toll on Pak-UAE relations.
Pakistan indeed is made to loose big time by the Iranian mafia in Pakistan paddling the 5th generation warfare against GCC, on behalf of India.

Well pakistan doesnt appreciate saudi's unconditional help enough. And I dont see Saudi's changing their stance dramatically against Pakistan even if India and Saudi grow close. Unless there is some shift in geopolitics or if Pakistan openly allies with Iran. Pakistan needs to understand that KSA also has to look for its own economy's and its peoples interests which is making long term investments for the future.

 

[Dexon]

Iran is indeed our neighbor, i seriously hope the feeling is mutual.
We have always ignored Iran's threats and target killings. smuggling of weapons, sectarian promotion, interfering in Pakistan's internal affairs, trying to steal from Pakistan using Zardari and Benazir Bhutto.
Pakistan supplied Iran with nuclear technology and no wonder if their missile technology is also a covert help from Pakistan.



Die for Saudi? Our soldiers are being killed by networks being operated from Iran. Our Zardari regime sent thousands to Iran for militancy training so that all Quran learning children may be beheaded, which actually happened in Rawalpindi Juma prayer attacks.

i bet you are one of the brainwashed . look at his post history he constantly blames iran for everything . with full of nonsense evidence
and we don't behead people unlike your beloved saudis...

 

[BATMAN]

i bet you are one of the brainwashed . look at his post history he constantly blames iran for everything . with full of nonsense evidence
and we don't behead people unlike your beloved saudis...

Look at my post history, i'm constantly arguing with Pakistanis in denial of Iranian missile attacks on Saudi Arabia and connection with terrorism in Pakistan.
When you don't know of Pakistan's facts. than don't speak. You don't even know what i was referring to.

At the same time i challenge all of the audience to see the biased moderation.
Personal attacks, abuses against those telling that Indian spies actually operate out of Iran.

 

[RIP Pak LAW]

Has been hearing about such deals for years without any materialization. 2-3 years back there was a news regarding UAE $75 billions investment in Indian infrastructure but haven't heard much in that regard as well.

Also in case of Pakistan, Saudis signed $10 billions + investment MoUs in Pakistan 7 months back... Again how much headway we have made in that regard? Well no updates...

 

[Battle of Waterloo]

Does BATMAN get paid for each anti-Iran sectarian post he makes?

This thread is about close Indian and Saudi ties and commercial relations, but still he spreads his sectarian filth here.

He must be a millionaire by now!

 

[Dexon]

Look at my post history, i'm constantly arguing with Pakistanis in denial of Iranian missile attacks on Saudi Arabia and connection with terrorism in Pakistan.
When you don't know of Pakistan's facts. than don't speak. You don't even know what i was referring to.

At the same time i challenge all of the audience to see the biased moderation.
Personal attacks, abuses against those telling that Indian spies actually operate out of Iran.

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it dosent matter what ever happen you balme iran beacuse that how they teach you.
if iran invest hundred billion in india you sh@t talk iran for years and now because your beloved saudis do you shut your mouth!...