11/19/2008

Indian firms will continue to invest in Turkey

Today’s Zaman - Raminder S. Jassal, India's ambassador to Turkey, has said Indian firms will continue to invest in Turkey, which he describes as the "center of energy in the region. As Prime Minister Recep Tayyip Erdogan prepares to visit India on Nov. 21-24, Jassal, who was recently appointed to Ankara, said the two countries have much potential for cooperation. The trade volume between Turkey and India which was $600 million five years ago, has increased to $3 billion today. "Indian oil has an investment plan of $5 billion for the Ceyhan project, which involves refineries, oil pipe and petrochemicals," Jassal said, referring to an agreement signed with Turkey's Calik Holding, which is currently constructing the Samsun-Ceyhan oil pipeline in a joint initiative with Italian energy giant Eni.

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