Reliance keen on Sudan ventures

Reliance has evinced interest in investing in the oil and telecom sectors in Sudan. Two Reliance delegations have already visited Sudan to explore opportunities, Abdalmahmood Abdalhaleem, ambassador of Sudan in India, said in Kolkata today.

"There are opportunities both in upstream and in the downstream sector in oil. Reliance can invest in both areas," he added at a meeting at the Bengal National Chamber of Commerce and Industry (BNCCI).

Sudan has fully privatised its telecom sector and there was scope for investment in strengthening telecom infrastructure.

Oil and Natural Gas Corporation (ONGC), through its overseas arm ONGC Videsh (OVL), has invested $ 750 million in picking up 25 per cent stake in Greater Nile oil project in Sudan from Canadian company Talisman.

ONGC was planning to invest another $ 750 million in revamping a petrochemical unit and laying a pipeline from Khartoum to Port Sudan.

The ambassador pointed out ONGC's entry into Sudan's oil sector had led some other companies to look at other sectors in Sudan. For instance, Kirloskars has evinced interest in a sugar project.

The ambassador claimed a peace accord with the rebel group fighting the civil war in Sudan was expected soon.

As Africa's largest country, Sudan was seeking investment in other sectors like information technology, agriculture, agro processing, pharmaceuticals, mining and minerals and textiles.

Indian Railways had bagged some projects in Sudan already.