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FINANCIAL NEWS
Bahraini EDB, India’s CII sign MoU for USD1trn projects
07 Sep 2014
(MENAFN) Bahrain’s government companies are set to invest in the newly planned USD1 trillion Indian infrastructure projects, Khaleej Times reported.
The new Indian government has started planning the execution of a massive infrastructure upgrades which will include smart cities and industrial corridors connecting different regions of the country, with an estimated worth be nearly USD1 trillion for the projects which will extend over the next five years.
As a result of this project, Bahrain’s Economic Development Board (EDB) signed a memorandum of understanding with the Confederation of Indian Industries, (CII), for the establishment of the Regional Office of the CII in Bahrain.
The office is expected to be located in the EDB building and will help to drive and facilitate investor interest to appropriate projects in India.
“Bahrain is very keen to work with India as a partner country and tap the global market. Government companies in Bahrain will look at investing in Indian infrastructure projects,” EDB said in a statement.
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