“Saudi Arabia has been, and continues to be, an important and reliable partner in our energy security by meeting a large part of our energy requirements. We both are committed to elevate our buyer-seller relationship into a strategic partnership in the energy sector based on mutual complementarities and interdependence. We have to explore significant areas of cooperation matching India’s traditional strengths and the availability of the resources in Saudi Arabia – considerable potential exists for establishing joint ventures in petrochemical complexes, refineries and fertilizer plants. We are in the process of a major expansion of our refining capacity to become a regional hub for refined products and we look forward to Saudi investments in joint ventures with Indian public sector units (PSUs) in upstream and downstream sectors in India, Saudi Arabia or in third countries,” Modi said.
21:41 LOCAL TIME 18:41 GMT