Oman to invest 3 billion dollars in India to revive closed fertilizer plants

Oman will invest three billion US Dollars in India to revive closed down fertiliser plants. This was disclosed Commerce Minister Anand Sharma after sixth Session of the India-Oman Joint Commission Meeting in Muscat on Sunday. He said, this initiative is expected to act as a catalyst to promote trade and investment between the two countries.

Both the sides agreed to form a senior level working group representing Government of India, RCF, Krishak Bharati Cooperative Limited (KRIBHCO), from Indian side and Oman Oil Company from Oman side for initiating the due diligence.

The Joint Commission Meeting reviewed the entire gamut of bilateral economic relations and means enhancing bilateral trade, which rose to 4.5 billion last year, even in face of severe recessionary pressure.

India and Oman also agreed to collaborate in several fields including Agriculture, Airports, sea ports, and railways, hospitals, power including nuclear power.

The Government of Oman has also expressed its keenness for setting up super-speciality hospitals in India and diagnostic facilities in the form of joint-venture, for which Oman delegation will visit India shortly.

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