India, Oman in talks to boost co-operation
(AFP) - NEW DELHI: Oman’s Foreign Minister Yousuf Bin Alawi bin Abdullah held talks yesterday with his Indian counterpart Jaswant Singh on boosting trade and economic co operation.
Indian Foreign Ministry Spokesman Raminder Singh Jassal said that the ministers’ meeting in New Delhi was part of an ongoing high-level dialogue. “The entire bilateral relationship was discussed, especially India and Oman’s growing cooperation in the hydrocarbon sector,” he said.
He said that the ministers had expressed “immense satisfaction” with a joint venture to set up a $969 million fertiliser plant in Oman.
Two Indian state-run firms will each hold 25 per cent equity in the Oman India Fertiliser Co., while Oman Oil will control the remaining 50 per cent.
The entire fertiliser production will be bought by India for at least 10 years. Initially, the fertiliser plant will have an installed capacity of 1.65 million metric tonnes of urea and 248,000 metric tonnes of surplus merchant grade ammonia. – AFP