India and Saudi Arabia strengthen investments and trade ties

India and Saudi Arabia strengthen investments and trade ties
Crown Prince being received by Honourable Vice President of India at New Delhi airport. Image: www.indianembassy.org.sa
Published: 27 February 2014 - 11 a.m.

Indian and Saudi companies signed four agreements on Thursday to jointly promote and facilitate investments and trade.

Saudi Arabia's Al-Qahtani and Indian firm SledgeHammer Oil Tools signed a joint venture agreement for setting up a plant for oil drilling products in Saudi Arabia.

Saudi Arabia's Yusuf Bin Ahmed Kanoo Company and Seaworld Shipping and Logistics Private Ltd signed a joint venture agreement to establish a Joint Logistic and Shipping Network.

Al Rabiah & Partners and India's Novatech have signed a deal for engineering, procurement and construction (EPC) business and supply of industrial equipment to the Saudi Arabian firm.

KRBL Limited also signed an agreement with Omar Ali Balsharaf Est to supply 165,000 tonnes of Basmati rice to the Gulf kingdom.

Representatives of Indian and Saudi companies signed the memorandums of understanding at the India-Saudi Arabia Business Forum meeting.

The news comes as Crown Prince Salman bin Abdulaziz Al Saud, deputy premier and minister of defense of the Kingdom of Saudi Arabia, pays a visit on Thursday to India's vice president Dr. Mohammed Hamid Ansari.
 

Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha