Prime Minister Narendra Modi also invited UAE sovereign wealth funds to consider joining the second Infrastructure Fund, to be launched this year.
Key outcomes of the visit include a long-term agreement under which Hindustan Petroleum Corporation Limited (HPCL) will purchase 0.5 million metric tonnes per annum (MMPTA) of liquefied natural gas from Abu Dhabi National Oil Company Gas (ADNOC Gas) for a 10-year period starting 2028.
A joint statement issued after the visit said UAE companies First Abu Dhabi Bank and DP World will set up offices and operations in Gujarat's GIFT City. While the former will set up a branch to support trade and investment linkages, the latter will operate from GIFT City, including leasing ships for its global operations.
A letter of intent was signed between the Gujarat government and the UAE Ministry of Investment for developing the Dholera Special Investment Region in the state.
The partnership will include the development of strategic infrastructure like an international airport, a pilot training school, a maintenance, repair, and overhaul facility, a greenfield airport and a smart urban township, along with projects related to railway connectivity and energy infrastructure.
Fibre2Fashion (DS)
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