360° Coverage : India, Mozambique sign 3 credit lines for $216 mn

3 Updates
India, Mozambique sign 3 credit lines for $216 mn
Photo Credit: Dan Kitwood, Getty Images

India, Mozambique sign 3 credit lines for $216 mn

Jul 5 2013, 8:36am CDT | by

New Delhi, July 5 (IANS) India and Mozambique have signed three Line of Credit (LoC) agreements worth $216.4 million for developmental works in Mozambique.

New Delhi, July 5 — India and Mozambique have signed three Line of Credit (LoC) agreements worth $216.4 million for developmental works in Mozambique. The LoCs in the areas of drinking water supply...

Filed under: news

YouTube Videos

 
 
 

1 year ago

India, Mozambique sign 3 credit lines for $216 mn

Jul 5 2013, 8:36am CDT | by

New Delhi, July 5 (IANS) India and Mozambique have signed three Line of Credit (LoC) agreements worth $216.4 million for developmental works in Mozambique.

New Delhi, July 5 — India and Mozambique have signed three Line of Credit (LoC) agreements worth $216.4 million for developmental works in Mozambique.

The LoCs in the areas of drinking water supply, roads and housing development, were signed during the ongoing visit of Minister of State for External Affairs Preneet Kaur to Mozambique, the ministry announced Friday.

Kaur, who is visiting Mozambique July 4-6 for the third session of the India- Mozambique Joint Commission, told a forum of business people from both countries that the two countries are also considering a new trade agreement to boost cooperation.

India-Mozambique trade has doubled from $631.76 million in 2011-12 to $1.28 billion in 2012-13, thus surpassing the one billion US dollars bilateral trade target set during Mozambique President Armando Guebuza's state visit to India in 2010.

"India also is committed to continue to assist Mozambique in its socio-economic developmental efforts in various ways, including through Line of Credits," Kaur told the gathering of entrepreneurs from both countries in Maputo, the Mozambique capital.

India has extended Lines of Credit worth $640 million to Mozambique.

India is the 8th largest foreign investor in Mozambique with total investments estimated at more than $500 million.

There are already several bilateral agreements to benefit business communities of both countries, including on avoidance of double taxation, for promotion and protection of investments, and the duty free tariff preference scheme for Least Developed Countries.

The Indian delegation to Mozambique comprises entrepreneurs looking at investment opportunities in various sectors, especially agriculture, construction, water resources, energy and technologies.

Kaur's visit to Mozambique and to Tanzania (July 8-10) is significant from India's energy security perspective, with the recent discovery of large reserves of gas in the Indian Ocean off Mozambique and Tanzania.

"It is estimated that there are 23 billion tonnes of coal reserves and 150 trillion cubic feet of natural gas in Mozambique and to exploit these resources, big investments are required. This presents a great opportunity for the Indian companies to take part in the development of related infrastructure like railways, roads, ports, gas pipelines, fertiliser plant, power plants," Kaur said

Last June, Oil and Natural Gas Corporation and Oil India acquired 10 percent stake in the Area 1 oil block in northern Mozambique's Rovuma Basin at a cost of $2.5 billion and the Indian public sector companies now hold a 20 percent interest in the Anadarko-led consortium operating the oil block.

IANS

Source: IANS

 
Update
3

3 weeks ago

Suspected poachers escape Mozambique police post

Nov 5 2014 3:10am CST | Source: Townhall's

JOHANNESBURG (AP) — Two alleged elephant poachers in Mozambique escaped from a police station while awaiting trial, undermining ef ...
Source: Townhall's   Full article at: Townhall's
 

 
Update
2

6 weeks ago

Lies, Damned Lies, and Bill Maher's Statistics

Oct 10 2014 7:22pm CDT | Source: Politics - The Huffington Post

Bill Maher's polemics about Islam have made a lot of headlines lately. While sitting as a guest on Maher's HBO show Real Time, film star Ben Affleck suggested that Maher was being racist. Maher's emphatic obsession with Islam as the target of his more broadly atheist polemics may qualify as bigotry, but it was perhaps Reza Aslan, a scholar of religions, who more carefully captured the source of Maher's problem. Dr. Aslan simply observed, ...
Source: Politics - The Huffington Post   Full article at: Politics - The Huffington Post
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

Japanese man sues women-only university for rejecting him
Tokyo, Nov 27 (IANS/EFE) A young Japanese man is suing an all-female public university for gender discrimination after being denied admission, according to a media reports.
 
 
Brown case highlights alarming pattern: Rights panel
Miami, Nov 27 (IANS/EFE) The grand jury decision not to indict the white police officer who fatally shot unarmed black teenager Michael Brown in Ferguson, Missouri, spotlights "an alarming pattern of law enforcement use of excessive force against people of colour", the American Civil Liberties Union (ACLU) of Florida has said.
 
 
41 prisoners flee Venezuela jail
Caracas, Nov 27 (IANS/EFE) A total of 41 alleged criminals fled Wednesday morning from a jail in the central Venezuelan city of Los Teques in Miranda state.
 
 
British couple arrested on suspicion of 'terror offences'
London, Nov 27 (IANS) A couple in Britain has been arrested on suspicion of Syria-related "terrorism offences", police said Wednesday.
 
 
 

Latest from the Network

Japanese man sues women-only university for rejecting him
Tokyo, Nov 27 (IANS/EFE) A young Japanese man is suing an all-female public university for gender discrimination after being denied admission, according to a media reports. The man, aspiring to enroll in Fukuoka...
Read more on Politics Balla
 
Brown case highlights alarming pattern: Rights panel
Miami, Nov 27 (IANS/EFE) The grand jury decision not to indict the white police officer who fatally shot unarmed black teenager Michael Brown in Ferguson, Missouri, spotlights "an alarming pattern of law enforcement...
Read more on Politics Balla
 
15 wins in a row great achievement: Ancelotti
Geneva, Nov 27 (IANS) Real Madrid coach Carlo Ancelotti has called Real Madrid's 15th straight victory "a great achievement" and said he expected Basel to advance in the Champions League. Real defeated Basel 1-0...
Read more on Sport Balla
 
41 prisoners flee Venezuela jail
Caracas, Nov 27 (IANS/EFE) A total of 41 alleged criminals fled Wednesday morning from a jail in the central Venezuelan city of Los Teques in Miranda state. "According to preliminary information, around 2 a.m....
Read more on Politics Balla
 
Taxes may keep Jolie from buying British property
London, Nov 27 (IANS) Actress Angelina Jolie, who has been considering buying property in Britain, says the proposed 'mansion tax' could prevent her from doing so. The actress is a regular visitor to Britain due to...
Read more on Celebrity Balla
 
Nigerian opposition criticise government for currency devaluation
Abuja, Nov 27 (IANS) The All Progressives Congress(APC), Nigeria's main opposition party, Wednesday criticised the government for its move to devalue the country's currency naira. ]The party objected that the policy...
Read more on Business Balla
 
Nick Cannon and Mariah Carey to spend Christmas together
Nick Cannon and Mariah Carey will spend Christmas together. The couple, who married in 2008, announced their separation earlier this year, but Nick has confirmed that won't stop him spending the festive season with his...
Read more on Celebrity Balla
 
Yasmany Tomas Agrees to 6-Year, $68.5M Deal With Arizona Diamondbacks
Yasmany Tomas has agreed to a mega-deal with the Arizona Diamondbacks.The Cuban outfielder came to terms with the D-backs on a six-year, $68.5 million contract, per MLB.com's Jesse Sanchez:"Cuban outfielder Yasmany...
Read more on Sport Balla
 
Johnny Depp feels 'like a fugitive'
Johnny Depp lives ''like a fugitive''. The Hollywood icon is among the most photographed people in the world, but insists he craves a more quiet life. Johnny, 51, said: ''I'm f*****g shy man. ''I'm living, in a sense,...
Read more on Celebrity Balla
 
Scott Disick says he hasn't slept with Kourtney Kardashian 'in five years'
Scott Disick has claimed he and Kourtney Kardashian ''haven't slept together in five years''. The 31-year-old reality TV star made the strange statement during a new episode of 'Kourtney And Khloe Take The Hamptons',...
Read more on Celebrity Balla