saudi arabia investment in india, Saudi Arabia, oil supply, oil import, Business news

Saudi Arabia will make India a petroleum hub, the promise of big investment.

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Saudi Arabia is considering making India a regional center for the supply of crude oil. Saudi Arabia’s Foreign Minister Adel bin Ahmed Al-Jubier has said that his country will invest billions of dollars in the construction of storage facilities and strengthening the refinery. World’s largest oil exporter, Saudi Arabia, will also invest in the distribution and marketing area of ​​petroleum products in India.

Along with this, Saudi India will help to strengthen the infrastructure in the Petrochemical sector. The External Affairs Minister in the delegation of Saudi Arabia’s Crown Prince Mohammed bin Salman said that his country sees India as increasing economic power and is hopeful about its further growth.

Adel bin Ahmed Al-Jubier said, “We are considering making India a center of supply of crude oil in the region. We are considering making storage facilities here. We are also looking at the refinery and distribution and marketing sector. ” They said, “We are investing in such infrastructure that will enable India to import and export petroleum products.”

Saudi Arabia recently announced that Saudi Aramco, the world’s largest oil exporter, will be a participant in the refinery project established in Joint Venture at a cost of $ 44 billion in Maharashtra. This will be the world’s largest refinery, which will be built once.

Adel bin Ahmed Al-Jubier said, “We are building the largest refinery complex of India with a partnership of 44 billion dollars.” He said, “We are seeing India as a growing economic power and a stable and a country with opportunities.” That’s why we want a better and stronger relationship with India. ” The Foreign Minister of Saudi Arabia also said that his country is committed to fulfilling India’s oil demand and is ready to sell more crude oil.