India may invest in Saudi infra projects

India may invest in Saudi infra projects
India may invest in Saudi infra projects

India is eyeing investment opportunities in Saudi Arabia's $500 billion futuristic infrastructure projects. The Indian commerce and industry ministry said in a statement: “The infrastructure projects are part of the Kingdom's initiative to expand their economy through major structural changes by developing mega projects like NEOM, new roads and railroads, airports and sea ports, development of Qiddiya entertainment city and Red Sea Tourism Project.” India plans to explore possible contracts and investment opportunities in the upcoming two-day visit of a delegation of representatives of top infrastructure, housing and allied sectors and entertainment industry to Riyadh. Led by Ministry of External Affairs and Trade Promotion Council of India, the visit is scheduled for November 27-28. The projects coming up in Saudi Arabia are part of its 'Vision 2030' as it seeks to shift from an oil-based economy to an industrial manufacturing-based productive economy. As per the statement, Vision 2030 is expected to open up new opportunities for Indian companies and professionals in various sectors like railways, hospitality, tourism, airport, housing, IT and entertainment. Indian investments in Saudi Arabia are worth $1.5 billion while Saudi Arabia has invested $16 million in India.

No stories found.
No stories found.
No stories found.
No stories found.
No stories found.
No stories found.
India Global Business
www.indiaglobalbusiness.com