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Maha govt to allot land for India-UAE-Saudi Arabia oil refinery in coming weeks: UAE envoy

Press Trust of India  |  New Delhi 

The land for a proposed India-UAE-refinery in will be allocated in the coming weeks, a said Thursday as he sought to assuage New Delhi's concern over fuel deficit in view of US sanctions against

The remarks by emirates' on the allocation of land in Maharashtra's district came at a time when the project was facing opposition from the locals as well political parties, including the

In a this week, had said will raise the issue of volatility in global prices at the Summit in

Responding to a question on whether there will be a demand-supply mismatch, especially once the six-months' relief given by the US to cut down imports from ends, the said fuel prices were determined by demand by different markets globally.

"Will there be a shortage? I don't think so. Yes was given relief from US boycott with seven other countries. Even if that had not taken place, if you go back to history, in previous times, the UAE and Saudi always stood very strongly and supplied and covered any shortages of oil or fuel to So I don't think there is a major concern over that," Albanna told reporters ahead of the 47th of his country.

India's top three are Iraq, and The UAE is also one of the major to

Earlier this month, India was given a six-month relief by the US to bring Iranian to zero under the Countering America's Adversaries Through Sanctions Act (CAATSA), aimed at hitting the Russian, Iranian and North Korean entities hard.

In June this year, the world's biggest oil producers, Saudi Aramco, (Adnoc), the state-run oil firm of the UAE, and India came together to jointly develop the refinery and petrochemicals complexes in

Fearing that the land in the area would lose fertility and be a threat to Alphonso mangoes and fishing hamlets, the locals were opposing the project. The Shiv Sena, a BJP ally at the Centre and in the state, also opposed it.

"The state of is in a stage of allocating land. The land will be allocated in coming two weeks or months," the said.

Responding to a question on the extradition of Christian Michel, a British national and alleged middleman wanted by Indian investigative agencies in the Rs 3,600-crore AugustaWestland VVIP choppers deal case, Albanna said the matter should be left to the judicial system in the UAE.

This month, a court ordered Michel's extradition to India.

He said the two countries have a meeting in Abu Dhabi on December 4 led by and her counterpart.

He added that both sides were keen to review the air services agreement to bring down prices and increase flight operations without interfering with individual carriers to benefit passengers.

Fifty-five per cent of Indians travelling overseas transit through the UAE, he said.

The envoy said an agreement would soon be signed between the UAE and India for setting up a fast-track single window system for investments.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 20:55 IST