Abu Dhabi plans investing USD 50bn in India’s infrastructure

By bne IntelliNews July 4, 2013

Abu Dhabi has pledged to invest USD 50bn in India's cash-hungry infrastructure, at a time when expansion in the economy has sharply eased. The pledge by Abu Dhabi was the main factor in pushing the government to approve a bilateral deal to boost flights between the two nations.

The plan to boost flights between the UAE and the country is linked to a controversial proposal by the Abu Dhabi-based Etihad airline to buy a 24% stake in the country’s Jet Airways for INR 20.5bn. That deal, which is the largest foreign investment proposal in the country’s aviation sector, experiences regulatory hurdles, with many ministries bringing up objections over the bilateral boost in flights as well as over control of Jet after the sale.

Related Articles

Rosneft-led acquisition of India's Essar completed, says CEO Sechin

The acquisition of India's Essar Oil led by Russian oil major Rosneft can be “considered done”, the state-controlled company’s CEO Igor Sechin said at the annual shareholder meeting on June 22, ... more

Vietnam’s textile and garment exports to South Korea records USD 1.64bn in 2013

Vietnam’s textile and garment exports to South Korea expanded 53.5% y/y recording USD 1.64bn last year, while the nation overall exports to South Korea accelerated 18.9% y/y posting USD 6.6bn. The ... more

Vietnam, Kazakhstan to boost investment cooperation

Vietnam’s trade with Kazakhstan expanded USD 221.8mn during first eleven months last year. According to Erbolat Dossaev, Kazakh Minister of Economy and Budget Planning, Vietnam’s exports to ... more

Dismiss