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FINANCIAL NEWS
Oman to invest $3b in Indian ventures
06 Sep 2010
(MENAFN) The Omani government has agreed to invest $3 billion in reviving several fertilizer plants in India, which was one of several joint venture agreements between the two countries, Times of Oman reported.
The Sultanate agreed to invest billions of dollars in reopening fertilizer plants previously operated by the Fertilizer Corporation of India and the Hindustan Fertilizer Corporation Ltd, The Economic Times newspaper said.
The agreement came about during the sixth session of the India Oman Joint Commission Meeting, which was held in Oman. The session looked at increasing bilateral trade between the two countries, which rose to $4.5 billion last year.
The Oman Oil Marketing Company also agreed to study the possibility to setting up a joint venture to develop a lube blending plant in Oman, which could be marketed to other countries in the region, the report added.
The two governments also looked at possible joint venture in a number of different sectors, including agriculture, airports, sea ports, railways, hospitals and nuclear power.
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