Prime Minister Narendra Modi, who is on a two-day visit to Saudi Arabia to attend the third edition of the kingdom's high-profile annual financial conference, on Tuesday said, "By 2024, we aim to invest $100 billion in refining, pipelines, gas terminals. I am happy that Saudi Aramco has decided to invest in West Coast Refinery Project, which will be the largest refinery in Asia".
"Today, India has become the world's third largest start-up ecosystem. Even in Tier-II and -III cities of India, start-ups have come up. Our start-ups have started investing at global scale. I invite global investors to benefit from our start-up ecosystem", said PM Modi.
PM Modi is attending the Future Investment Initiative, dubbed 'Davos in the desert', an initiative of Saudi Crown Prince Mohammed bin Salman.
Saudi Arabia on Tuesday announced that 23 investment agreements totalling more than $15 billion in value were signed on the first day of a three-day high-profile financial summit, being attended by Prime Minister Narendra Modi and several other world leaders.
PM Narendra Modi at Future Investment Initiative (FII), Riyadh (Saudi Arabia): Under Skill India initiative, in the coming 3-4 years, 400 million people will be trained under different skills. This will provide assured skilled manpower to companies investing in India. pic.twitter.com/0Ku8bBbFH9— ANI (@ANI) October 29, 2019
The deals were signed on the sidelines of the Future Investment Initiative, dubbed "Davos in the desert", which is an initiative of Saudi Crown Prince Mohammed bin Salman, who plans to diversify the Kingdom''s economy while reducing its economic dependence on petroleum products under his ambitious vision 2030 plan.