India seeks Saudi investment in petro projects

India has invited Saudi Arabia to enhance investment in infrastructure and petrochemical sectors and take advantage of the huge opportunities being offered by the country.
This was emphasised by Finance Minister P Chidambaram in his 2-day visit to Saudi Arabia during which he met Crown Prince Salman bin Abdulaziz Al Saud and also interacted with the representatives of the business community.
Abdulaziz Al Saud, who is the Deputy Prime Minister and Defence Minister, would visit India next month along with a delegation of businessman, said a Finance Ministry statement.
"He urged Saudi business to invest in infrastructure and petrochemical projects in India," the statement said.

Citing opportunities in India, Chidambaram said Saudi businessmen can look for investment in projects like Delhi Mumbai Industrial Corridor (DMIC); OPaL Petrochemical Complex, Gujarat, petrochemical complex at Mangalore, IOCL's LNG project in Tamil Nadu, Paradip Refinery of IOCL and Kochi Petrochemical Project of BPCL.
The Minister was in Riyadh to participate in the 10th India-Saudi Arabia Joint Commission Meeting (JCM).
During the meeting of JCM, Chidambaram and Saudi Commerce & Industry Minister Taqfiq Al-Rabia called for strengthening of cooperation in accordance with the Delhi Declaration and Riyadh Declaration.