Kazakhstan looks forward to Indian investments

Feb 13, 2002 01:00 AM

Kazakh representatives have called on Indian business to invest money in the oil and gas industry of their republic. This call was voiced at the meeting of the Kazakh-Indian Intergovernmental Commission on Trade, Economy, Science and Technology. Its session was convened in the course of Kazakh President Nursultan Nazarbayev's official visit to India. It was co-chaired by Kazakh Vice-Premier Vladimir Skolnik and Indian Minister for Oil and Gas Ram Naik.

The Kazakh side went on record for the participation of the Indian ONGC Videsh Gas and Oil Corporation in the development of Caspian off-shore gas and oil deposits. Both delegations did not rule out the possibility of inviting the Indian private "Oil Corporation and Engineers India" to take part in this work, since it has accumulated rich experience in modernising the oil refineries that were built in India with the help of the Soviet Union. The Indians, in turn, offered to help build liquefied gas plants in Kazakhstan.

Indian investments, Kazakh representatives stated, will also be appreciated in the republic's agriculture, transport services, building construction, defence industry, telecommunications and high technologies. The possibility of setting up joint enterprises to produce textiles, ready-made clothes and footwear is far from exhausted, too.
It was decided to hold in India this year some joint seminars on information technologies and uses of solar energy. The joint Indo-Kazakh Declaration, which Nursultan Nazarbayev and Atal Bihari Vajpayee signed, notes that Kazakhstan could be an important sources of energy to India, which, in turn, could help the Kazakh economy with information technologies.

Source: Itar-Tass
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