ONBOARD PM'S SPECIAL AIRCRAFT: Qatar may invest USD 5 billion in energy and fertiliser projects in India as part of New Delhi's efforts to use
surplus funds from the energy-rich Gulf region to shore up slowing economic pace.
Prime Minister Manmohan Singh, on his way back from the three-day maiden visit to the region, said he discussed with the Qatari leadership the modalities of setting up the USD 5 billion fund dedicated for investments in India.
"We discussed the modalities of Qatar investing about USD 5 billion in India. In the next 2 or 3 months, we will work out modalities (and) identify projects in the area of energy, power, fertiliser and related activities," he said.
The discussions over the next couple of months would enable the Government of Qatar to decide where it wants these funds to be invested in.
Discussions on the Qatar Investment Fund followed India and Oman signing an agreement on November 8 to set up a USD 100 million joint investment fund for financing projects in telecom, infrastructure, utilities, health and urban infrastructure.
The India-Oman Joint Investment Fund, with an equal contribution from each side, would eventually go up to USD 1.5 billion, the Prime Minister said.
6 months ago