NEW DELHI: Saudi Arabia, the world’s biggest oil exporter, is looking atinvesting $100 billion in India in areas of petrochemicals, infrastructureand mining among others, considering the country’s growth potential.
Saudi Arabia’s Ambassador to India Dr Saud bin Mohammed Al Sati has saidIndia is an attractive investment destination for the kingdom and it iseyeing long-term partnerships with New Delhi in key sectors such as oil,gas and mining, international media reported.
“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 told PTI in aninterview.
He said Saudi Arabia’s biggest oil giant Aramco’s proposed partnership withReliance Industries Ltd reflected the strategic nature of the growingenergy ties between the two countries.
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The envoy said investing in India’s value chain from oil supply, marketing,refining to petrochemicals and lubricants is a key part of Aramco’s globaldownstream strategy.
“In this backdrop, Saudi Aramco’s proposed investments in India’s energysector such as the $44 billion West Coast refinery and petrochemicalproject in Maharashtra and long term partnership with Reliance representstrategic milestones in our bilateral relationship,” he said.
