Visiting Urban Development Minister, Mr Kamal Nath, has said that India has expressed its interest to participate in the construction of the first-ever rail link between the Mediterranean and Red Sea coasts.
The proposed rail link, which was unanimously approved by the Israeli Cabinet last week, offers a new Asia-Europe trade route that will compete with the Suez Canal.
“Once this project is formed and the road map is clear, Indian companies will evaluate their participation, but I do see good Indian interest in this,” Mr Nath said after meeting the Israeli Transportation Minister, Mr Yisrael Katz, and the Minister for Trade, Industry and Labour, Mr Hsalom Simhon.
Dismissing claims that India lost yet another infrastructure project of interest to China due to lethargy on its part, he claimed the country has already shown its interest for the project and things are in their very initial stage.
“That’s not correct because I have discussed this with the Minister of Transport this morning and it’s in a formative stage,” Mr Nath said, reacting to some media reports.
“They are in fact welcoming India’s participation in this and no country has taken over anything. This will be pursued by the Indian companies. I think this is an area of potential for enhancing our engagement,” the Minister further said.
Mr Nath brought up the issue of participation of Indian companies in the project during his discussions with Israeli ministers, who are said to have promptly welcomed India’s involvement.
The media reports had claimed that the state-owned infrastructure companies could have been benefited from the opportunities in the project, but Indian government’s lethargy and inertia in decision-making led China walk away with the bid.