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UAE co to invest $400mn for SEZ.


Date: 24-10-2009
Subject: UAE co to invest $400mn for SEZ
United News of India Kolkata, Oct 23: 'DP World' of the United Arab Emirates (UAE) would invest 400 million USD for development of a Special Economic Zone (SEZ) and a port at Kulpi in West Bengal.

Stating this here today, Mr Mohamed Sultan Abdalla Al Owasis, Ambassador, Embassy of the UAE, said the investment for the first phase of the port and the SEZ would be 180 million USD and 220 million USD respectively.

Mr Owasis made this observations in an interactive session, organised by Confederation of Indian Industry (CII).

He said Indian economy was attracting investments from the UAE in various sectors like minerals and metals, real estate and infrastructure.
Companies from his countries were also on the look-out for investing in aviation, ports, telecom and energy in India, he said.

'' UAE is among the top ten investors in India and we would like to work with you to make us as number one investor in India, '' Mr Owasis observed.
Despite the global meltdown, he said Indo-UAE trade continued to grow impressively and UAE became India's number one trading partner outstripping China and USA.
Mr Owasis informed that the total bilateral trade between the two countries in the last fiscal was about 44.5 billion USD, compared to 29.1 billion USD during the same period in 2007-08, an increase of 53 per cent.

Source : centralchronicle.com


 

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