Business Daily from THE HINDU group of publications
Friday, Apr 20, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Apr 20, 2007 ePaper |
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Industry & Economy
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Petroleum
Our Bureau
New Delhi April 19 Uzbekistan has agreed to open technical talks with GAIL India Ltd for enabling the company to start exploration activity in natural gas in that country. The decision was taken after meetings between the Prime Minister of Uzbekistan, Mr Savkit Mirziyayev, and the visiting Minister of State for Commerce, Mr Jairam Ramesh, on April 13 at Tashkent, according to an official statement from the Commerce Ministry. India has also offered to help establish a training institute for gas technology in Tashkent, along the lines of the Jawaharlal Nehru IT Centre in the Uzbek capital that was inaugurated by the Prime Minister, Dr Manmohan Singh, last year. GAIL has identified four blocks for gas exploration. So far, Russia, China and South Korea have invested in gas exploration in Uzbekistan. Mr Mukund Chaudhury, Managing Director of CLC Textiles, which recently invested $81 million in cotton spinning and yarn in that country, accompanied Mr Ramesh in his meetings. CLC Textiles is planning to invest $40 million more over the next two years. Mr Mirziyayev has expressed his country's keenness on similar investments by Indian companies in pharmaceuticals and leather. Mr Ramesh has promised to talk to Indian companies in this regard soon.
Gold exploration
He also conveyed India's interest in exploring for gold in the country, since India is now the world's largest importer of gold.
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