|
India raises investment stake in Nigeria
 |
INDIA has expressed the desire to widen its scope of current investments in Nigeria, Indian deputy high commissioner to Nigeria, Anil Trigunayat, has said on a visit to Abuja. Mr. Trigunayat said that in the power sector, an agreement has been signed between an Indian company and Nigeria's Ministry of Energy to set up a plant and in addition, the agreement envisaged that several power plants in the country will be upgraded.
The Indian company, the envoy said, would help to train local technicians for the effective operation of the plants. |
Additionally, an Indian oil company ONGC has decided to invest $6.5 billion in various capital projects which would be outlined by the Nigerian government, in addition to an interest to establishing a petrol chemical plant.
The envoy said that the spate of kidnappings in the Niger Delta region would not affect relations between India and Nigeria, and that India would watch closely as the Nigerian government unfolds its development plan of the region. He however said that at the base of any solution would be the development of the region.
The Indian envoy expressed optimism that the two country's bilateral relationship, featuring creative collaboration on several fronts, especially with the economy, will be strengthened and expanded.
|
