With oil supply emerging as one of the biggest concerns for India after sanctions on Iran, Saudi Arabia has assured uninterrupted supply to India.
A deal has been signed between Saudi Arabia’s state-run oil company Aramco and Indian public sector oil companies to build a $60-billion oil refinery in Maharashtra.
Putting the ball in India’s court, Saudi commerce minister Majid bin Abdullah Al Qasabi said on Thursday that work will begin as soon as the land is allocated by India.
“Regarding the opportunities, we started with Aramco. It has taken a decision to build a refinery and it is a huge investment, it’s a commitment; waiting for the Government of India to choose the land. We have understood, as the PM said, that a new regional government has been chosen, so he expects in a very short time, the land will be decided. So, the ball is now in India’s court and it is the beginning of $35 billion investment,” he said. Read more
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