To invest in debt instruments and petrochemical projects, Indian government has invited Kuwait to the country. The Union Petroleum and Natural Gas Minister M Veerappa Moily and Kuwaiti Minister of Oil Mustafa Al-Shimali in Delhi had a discussion in this regard on November 9. India invited Kuwait with an investment package.
The package calls for investments of about $300 million each in ONGC Petro additions Ltd (OPaL) and ONGC Mangalore Petrochemicals Ltd.
The two countries have agreed on so many things. There are some more details that India and Kuwait will work out, Shimali said after an hour-long meeting with Moily. ONGC holds a 26 per cent stake in OPaL, a joint venture formed to set up a petrochemical complex at the Dahej Special Economic Zone in Gujarat.