India invites Canadian firms to invest in energy infrastructure

New Delhi, July 8 (IANS) India has invited Canadian financial institutions to invest in its energy infrastructure, an official statement said on Wednesday.

The petroleum ministry statement here said Petroleum Minister Dharmendra Pradhan met Canadian officials and businessmen, during his visit to the country from July 4-6 to participate in the second India Canada Energy Dialogue, and “offered to jointly underwrite large-scale energy projects such as LNG (liquefied natural gas), refinery and petrochemical plants”.

He also “highlighted the availability of world standard cost-effective and quality engineering, procurement and construction companies in India with highly talented manpower who can contribute to the Canadian hydrocarbon sector”, it added.

Oil marketer Indian Oil Corp has invested of $1 billion, which will go up to $4 billion, in an integrated LNG project in Canada’s British Columbia province, the petroleum ministry said.

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