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India today invited Kuwaiti companies to invest in petrochemical and refinery projects, as well as upstream— exploration & production—ventures in the country.
The Minister for Petroleum & Natural Gas M. Veerappa Moily in a meeting here with Sheikh Nasser Sabah AL-Ahmed AK-Jaber AL-Sabah, Minister of Amiri Diwan Affairs, Kuwait, cited examples of upcoming petro-chemical projects at Dahej, Mangalore and Paradeep which offer possibilities for Kuwaiti companies to pick up stakes for mutually beneficial cooperation.
Similarly, Indian companies would be keen to participate and invest in various projects in Kuwait’s E&P, refinery or petro-chemical sectors.
The Minister also proposed participation of Engineers India in the development of Kuwait’s oil industry projects.
Sheikh Nasser Sabah AL-Ahmed AK-Jaber AL-Sabah while voicing similar sentiments for deeper cooperation between the oil sector companies of India and Kuwait suggested that the experts of the two sides should sit together to deliberate on specific projects.
He invited representatives of Indian Oil PSUs to visit Kuwait for taking forward the initiative. The Kuwait Minister assured his full support to the on-going and future cooperation in the sector.
The two sides resolved to expedite discussions for promoting joint venture projects in various areas of oil and gas sector, an official statement said.
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