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FINANCIAL NEWS
Qatar, India sign MoU on Indian smart cities project
16 Dec 2014
(MENAFN) Qatar said that it has signed a Memorandum of Understanding in relation to a smart city project in Andhra Pradesh, as well as held discussions to identify areas of the smart cities, as well as power, solar energy, infrastructure development, healthcare and education projects, Arabian Business reported.
The Indian smart cities project, which was announced earlier in the year by the Indian Prime Minister, is expected to require USD3 billion in investments to build each city.
“We cannot deny that Modi, the Indian Prime Minister wave in attracting foreign investment, but again as India’s real estate is one of the most profitable sectors, we see a big opportunity to launch our self as a developer in India,” The Advisor to General Secretariat of the Council of Ministers in Qatar said.
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