Energy Industry
Industry: Email Alert RSS FeedAbu Dhabi - Investments In India.
APS Review Downstream Trends, January, 1999
Abu Dhabi's business links with India picked up after 1991 when New Delhi began economic reforms. By 1993, the UAE had become the fifth largest investor in India, with Abu Dhabi and Dubai accounting for most of the placements. These investments mostly involve real estate and stocks in some of India's biggest companies.
India is one of ADNOC's biggest markets for crude oil and petroleum products. Abu Dhabi's LPG sales to India began in 1996, for the first time, and are expected to increase rapidly in the coming years. Moving Into S. Korea: Under a deal to be finalised in early 1999, IPIC last October signed an MoU to buy a 50% stake for a mere $500m in South Korea's third largest oil refining and retail company with a market share of 21%. It would thus get 50% of...
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