New Delhi’s KSA $100bn trains, part of Mideast-Europe corridor

World Sep, 12 2023
New Delhi’s KSA $100bn trains, part of Mideast-Europe corridor
  • 243
  • 0

NEW DELHI: A new ports and railway corridor for Middle East and South Asia will include train links to India, an Indian Foreign Ministry official said, offering new details about plan unveiled over weekend at G20 summit in Delhi.

Asked about proposals, Ausaf Sayeed, Secretary in Ministry of External Affairs spelled out that corridor would include trains to India and not just links by port.

Saudi Arabia is among top exporters of petroleum to India. They also agreed to create joint task force for $ 100 billion in Saudi investment, half of which is earmarked for delayed refinery project along India's western coast, Sayeed said.

 "India would be connected by railroads is right interpretation, rather than India building railroads," he said in response to question at media briefing.

Multinational rail and ports deal, which includes as members United States, Saudi Arabia, India, European Union and United Arab Emirates is being viewed as response to China's ambitious Belt and Road Initiative.

Published in The Daily National Courier, September, 13 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

NC Monitoring Desk
NC Monitoring Desk https://www.dailynationalcourier.com/author/nc-monitoring-desk
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

Ibrahim makes highest individual score in ICC Champions Trophy history

Lahore: Afghanistan’s Ibrahim Zadran made history in Lahore, smashing 177 off 146 balls against England to record the highest individual score in ICC Champions Trophy history. His innings eclipsed the previous record of 165 set by England&rsquo...

Afghanistan keeps Champions Trophy hopes alive with 8-run victory over England

Lahore: In a thrilling Champions Trophy encounter at Lahore’s Gaddafi Stadium, Afghanistan defeated England by eight runs, knocking the 2019 World Champions out of the semi-final race. Despite a brilliant century from Joe Root, who scored 120...

Provinces responsible for conducting local bodies elections: ECP

ISLAMABAD: Election Commission of Pakistan (ECP) stated it was the responsibility of the provinces to conduct local bodies’ elections. According to the statement, a full bench of the commission, headed by Chief Election Commissioner Sikandar Su...

Petroleum dealers threaten nationwide strike on March 4

KARACHI: All Pakistan Petroleum Dealers Association announced a nationwide shutdown of fuel stations on March 4 in protest against the government’s deregulation policy. According to the association, a crucial meeting with Federal Minister for P...

More like this
Related

Top Russia, US officials to meet in Saudi Arabia today

MOSCOW: Top Russian and US officials will meet in Saudi Arabia to discuss improving ties, "Possible" truce in Ukraine and a summit between Vladimir Putin and Donald Trump. The talks come amid a burst of diplomacy on the Ukraine conflict, kick-started...

President Zardari meets President of Portugal in Lisbon

LISBON: President Asif Ali Zardari held a meeting with the President of the Portuguese Republic, Mr Marcelo Rebelo de Sousa, at the Palácio Nacional de Belém. President Marcelo Rebelo de Sousa warmly welcomed President Asif Ali Zardari...

Embarrassment for Modi as Macron ignores handshake attempt

PARIS: French President Emmanuel Macron ignited a storm of controversy when he refused to shake hands with Indian Prime Minister Narendra Modi during an event in Paris. The incident, which quickly went viral on social media, showed President Macron g...

President discusses mutual ties with Turkish counterpart

ISTANBUL: President Asif Ali Zardari, who left Pakistan for Lisbon, Portugal to condole the death of Prince Karim Aga Khan IV, held a meeting with Turkish President Recep Tayyip Erdogan in Istanbul. The meeting took place at the Ataturk Airport State...
Need Help? Chat with us