As part of the keenness and efforts of the Royal Embassy of Saudi Arabia in India to support the investment activities of the Saudi Private Sector, the Ambassador of the Custodian of the Two Holy Mosques H.E. Mr. Saleh Mohd. Al-Ghamdi attended a meeting between Eng. Abdul Mohsin Al-Drees, Chairman of Global Chem Tech, a Saudi Private Sector company, and Dr. U.D. Choubey, Chairman of Gas Authority of India Ltd. (GAIL),which took place at the Indian company’s premises in New Delhi.

          During the meeting, which was also attended by senior officials of the Indian company, joint projects which the two companies intend to launch in the Kingdom and India were discussed. The proposed multi-billion dollar projects include setting up of a huge Petrochemcial Complex in the Saudi Industrial City of Al-Jubail and a Petrochemical Plant in the Indian city of Cochin, Kerala. The two sides discussed the requirements concerning provision of raw materials and the land for the establishment of the two projects in the Kingdom and India.

          It may be recalled that the two sides had signed a Memorandum of Intent in the beginning of the current year and they are working at present on preparing necessary studies regarding the execution mechanism, financial shares etc., for the establishment of the two joint ventures.