Pradhan invites Saudi Arabian energy Minister to visit India

Pradhan asks Saudi Arabian oil companies to invest in India

Pradhan invites Saudi Arabian energy Minister to visit India

Minister of State (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan has invited Khalid A. Al-Falih, Minister of Energy, Industry & Natural Resources, Saudi Arabia to visit India.

In a telephonic conversation with Khalid A. Al-Falih, Pradhan also invited Saudi Oil Companies to invest and do business in Indian market.

Pradhan also discussed various issues of mutual interest, including Petroleum, energy cooperation and global oil and gas scenario. India had earlier offered Saudi Arabia a stake in the proposed mega oil refinery and petrochemicals project proposed in coastal Maharashtra at an estimated cost of Rs 1.5 trillion.
Engineers India as the PMC (project management consultants) for this refinery.

Saudi Aramco, the national oil company of Saudi Arabia, which is also the world’s largest oil and gas company in terms of reserves and output, has been keen to enter the domestic oil distribution market.

Recently, Prime Minister Narendra Modi had also met Deputy Crown Prince of Saudi Arabia Mohammad bin Salman here and held discussions on UNSC reform on the sidelines of the G20 summit and discussed various areas of bilateral cooperation.

The PM called for strengthened partnership with Saudi Arabia in various areas such as maritime security, infrastructure, low-cost housing and energy sector. He invited greater Saudi investment, mainly through the National Investment and Infrastructure Fund (NIIF), and sought greater cooperation in infrastructure, particularly modernisation of railway stations, according to the sources.

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Modi told the Saudi Deputy Crown Prince India could also become a source of food supply to the oil-rich Gulf Kingdom.

The deputy crown prince, who is the son of Saudi King Salman, holds the key defence and economic policy portfolios.

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