Saudi Arabia is considering India as a regional center for supply of crude oil and investing billions of dollars in the construction of storage facilities and strengthening the refinery.
Saudi Arabia's Foreign Minister Adel bin Ahmad Al-Zubber said this. The world's largest oil exporter, Saudi Arabia, will also invest in the distribution and marketing area of Petroleum products.
At the same time, India will help to strengthen the infrastructure in the Petrochemical sector. The External Affairs Minister in the delegation of Saudi Arabia's Yuvraj Mohammed bin Salman said that his country sees India as an increasing economic power and is hopeful about its further growth.
Al-Jubair said, "We are considering making India a center of supply of crude oil in the region. We are considering making storage facilities here. We are also looking at the refinery and distribution and marketing sector. "
He added, "We are investing in such infrastructure that will enable India to import and export petroleum products."
Saudi Arabia recently announced that Saudi Aramco, the world's largest oil exporter, will be a participant in the refinery project established in Joint Venture at a cost of $ 44 billion in Maharashtra. This will be the world's largest refinery, which will be built once.
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