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ONGC Videsh Ltd has expressed interest in bidding in the fourth licensing round for seven offshore and one onshore oil/gas blocks in Tanzania. The matter was discussed by Minister of State for Commerce and Industry D. Purandeswari and Tanzanian Minister of Industry and Trade Abdallah in Dar-es-Salaam.
The two ministers also discussed the various initiatives taken by India for setting up infrastructure projects in Tanzania including a 200-MW gas-based Combined Cycle Power Project, Wind Power Project and the Dry Port Project. India has also agreed to co-operate with Tanzania for rehabilitation and modernisation of the Tanzania Railway system, an official release said. Both sides agreed to double the volume of bilateral trade in the next two years from the existing $2.12 billion, and to reduce the trade imbalance, which is currently in favour of India.
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