Eyeing more crude oil, India inks four vital agreements with UAE

NEW DELHI: India and the United Arab Emirates signed four important agreements, including crude oil storage, civil nuclear energy sector and the development of Food Parks.

The big decision came during the meeting between Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi. The two leaders discussed topics mostly circling the energy sector and overall cooperation in strategic ties.

The meeting was held at Hyderabad House, Delhi. Nahyan also met President Droupadi Murmu. Nahyan will meet business leaders in the meeting to be scheduled in Mumbai on Tuesday.

MAJOR PACTS:

1 Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation.

2. Deal between ADNOC and India Strategic Petroleum Reserve Ltd.

3. Deal with Emirates Nuclear in connection with the Barakah Nuclear Plant.

4. For the development of food parks between the Gujarat government and Abu Dhabi-based PJSC company.