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Oman May Invest $3 Billion in Indian Fertilizer, Minister Says

Oman Oil Co., owned by the government of Oman, may invest about $3 billion in as many as three fertilizer companies in India, an Indian government minister said.

Executives and officials from the two countries agreed to explore the possible investments in Fertilizer Corp. of India, Hindustan Fertilizer Corp. and Rashtriya Chemicals & Fertilizers Ltd. the during a visit by Indian Minister of Commerce and Industry Anand Sharma to the Middle Eastern sultanate yesterday. Sharma told reporters in the capital city Muscat that the two sides had agreed to form an official working group to explore the idea.

The minister also said that Oman Oil Marketing Co. and Bharat Petroleum Corp. of India had agreed to study the feasibility of setting up a lubricants blending plant in Oman.

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