BAKU, Azerbaijan, June 4. India is interested in buying Kazakh oil under long-term contracts, Trend reports citing the government of Kazakhstan.
The issue was discussed during the 14th meeting of the Kazakhstan-India Intergovernmental Commission (IGC) on Trade, Economic, Scientific, Technical, Industrial, and Cultural Cooperation, held in New Delhi.
Within the framework of the event, a meeting was held between the Kazakh delegation led by the Deputy Prime Minister, Minister of Trade and Integration, Co-Chairman of the IGC Bakhyt Sultanov and the Indian delegation led by the Minister of Housing and Urban Affairs, and Petroleum and Natural Gas Hardeep Singh Puri.
During the discussion of mutual investment opportunities, the delegation of Kazakhstan invited Indian companies to consider investment opportunities in the field of deep processing of agricultural products and also invited Indian investors to participate in projects in the mining and metallurgical industry, energy (renewable energy sources), pharmaceutical production, mechanical engineering and agricultural technology, health care, electronics, tourism and resort, as well as ICT and IT industries.
The Indian side confirmed the intention of Indian oil and gas companies to study the possibilities of investing in the producing and/or developing assets of Kazakhstan.
The sides also reached an agreement to continue cooperation between Ust-Kamenogorsk Titanium and Magnesium Plant JSC and the Indian Midhani company (within a project for the production of titanium bioimplants), as well as IREL Limited company (within a project for the production of titanium slag in India).