+
India welcomes investment from Saudi Arabia for infrastructure projects: PM Modi
SMART CITIES

India welcomes investment from Saudi Arabia for infrastructure projects: PM Modi

As reported, Prime Minister Narendra Modi has stated that India is keen on promoting its cooperation with Saudi Arabia, with a major player being investments in the infrastructure sector. During his visit to the Middle Eastern country, Modi emphasised that the two nations were bringing their forces together in a bid to reduce inequality and boost sustainable development. 

The visit comes in the backdrop of Saudi’s annual investor summit, the Future Investment Initiative (FII) where Modi will be speaking in relation to not only strengthening the economic ties between the countries but to also extend their cooperation across sectors like trade, investment, security and defence.

Reportedly, the Prime Minister, who already has a well-established relationship with the Saudi crown prince Mohammed Bin Salman, in an interview said that the kingdom played a highly important role in fulfilling India’s energy requirements. He added that it was a reliable source and that stable oil prices were pivotal for the growth of the global economy. 

With his second visit in three years, Modi put forward his plan to sign an agreement on a Strategic Partnership Council which is set to further cement the bilateral ties that will branch out to various sectors and segments. 

Additionally, the visit also witnessed the Prime Minister speaking on the subject of the global economy in relation to India – the role played by large developing countries will strongly determine any actual change in the economy in the world over. 

Apart from infrastructure projects, the country is all set to welcome investments from Saudi Arabia for its Smart City Program as well.  

As reported, Prime Minister Narendra Modi has stated that India is keen on promoting its cooperation with Saudi Arabia, with a major player being investments in the infrastructure sector. During his visit to the Middle Eastern country, Modi emphasised that the two nations were bringing their forces together in a bid to reduce inequality and boost sustainable development. The visit comes in the backdrop of Saudi’s annual investor summit, the Future Investment Initiative (FII) where Modi will be speaking in relation to not only strengthening the economic ties between the countries but to also extend their cooperation across sectors like trade, investment, security and defence.Reportedly, the Prime Minister, who already has a well-established relationship with the Saudi crown prince Mohammed Bin Salman, in an interview said that the kingdom played a highly important role in fulfilling India’s energy requirements. He added that it was a reliable source and that stable oil prices were pivotal for the growth of the global economy. With his second visit in three years, Modi put forward his plan to sign an agreement on a Strategic Partnership Council which is set to further cement the bilateral ties that will branch out to various sectors and segments. Additionally, the visit also witnessed the Prime Minister speaking on the subject of the global economy in relation to India – the role played by large developing countries will strongly determine any actual change in the economy in the world over. Apart from infrastructure projects, the country is all set to welcome investments from Saudi Arabia for its Smart City Program as well.  

Related Stories

Gold Stories

Next Story
Real Estate

Kamdhenu Realities acquires 4-acre Navi Mumbai land parcel

Kamdhenu Realities has acquired a 4-acre land parcel from RPG Life Sciences on Thane-Belapur Road for approximately Rs 1.5 billion, expanding its commercial real estate portfolio in Navi Mumbai.The parcel has a total developable potential of 1.8 million sq ft, on which Kamdhenu plans to develop a destination-scale commercial and lifestyle ecosystem. The proposed development will combine corporate office suites with high-street retail, F&B outlets, double-height lobbies, business infrastructure and lifestyle amenities.Located close to IKEA and opposite the upcoming Pawane Railway Station, t..

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code