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

2 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, "When it comes to the to ...
Source: Politics - The Huffington Post   Full article at: Politics - The Huffington Post
 

 
Update
2

6 weeks ago

Mozambique logs a rare victory against poachers

Sep 14 2014 8:21am CDT | Source: Townhall's

JOHANNESBURG (AP) — The recent arrests of six suspected poachers on a vast wildlife reserve in Mozambique is seen by conservationist as rar ...
Source: Townhall's   Full article at: Townhall's
 

 

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

Population reduction no answer to environmental problems
Melbourne, Oct 28 (IANS) Policies targetting population reduction will not immediately solve issues of global sustainability simply because the world population is now so huge that there is no quick fix to the "virtually locked-in" population growth, a reserach has said.
 
 
Pakistan, Iran to strengthen border control
Islamabad, Oct 28 (IANS) Pakistan and Iran have reiterated their commitment to maintaining peace along the border and agreed on new measures to strengthen border coordination and control, media reported Tuesday.
 
 
Pistorius prosecutors to appeal verdict, sentence
Johannesburg, Oct 28 (IANS/EFE) South African prosecutors involved in the Oscar Pistorius case will appeal the verdict and sentence on the double-amputee Olympic athlete's manslaughter conviction, which resulted in a five-year prison term for the fatal shooting of his girlfriend Reeva Steenkamp.
 
 
Pakistanis protest India's 'occupation' in Kashmir
Islamabad, Oct 28 (IANS) Pakistanis across the world held demonstrations to mark the anniversary of what they termed as India's invasion and occupation of Kashmir Oct 27, 1947, media reported Tuesday.
 
 
 

Latest from the Network

Pistorius prosecutors to appeal verdict, sentence
Johannesburg, Oct 28 (IANS/EFE) South African prosecutors involved in the Oscar Pistorius case will appeal the verdict and sentence on the double-amputee Olympic athlete's manslaughter conviction, which resulted in a...
Read more on Politics Balla
 
Racers from 24 nations to compete in Mexico's Baja 1000
Mexico City, Oct 28 (IANS) The 2014 Baja 1000 off-road race through Mexico's Baja California Peninsula will feature competitors from 24 countries, organisers said. The competition, now in its 47th edition, will take...
Read more on Sport Balla
 
Pakistanis protest India's 'occupation' in Kashmir
Islamabad, Oct 28 (IANS) Pakistanis across the world held demonstrations to mark the anniversary of what they termed as India's invasion and occupation of Kashmir Oct 27, 1947, media reported Tuesday. The Pakistani...
Read more on Politics Balla
 
New Zealand, US to hold joint military exercise
Wellington, Oct 28 (IANS) New Zealand and the US will conduct a month-long joint military exercise next month to test their deployment agility. The New Zealand Defence Force (NZDF) Tuesday said that its army and air...
Read more on Politics Balla
 
Pakistan prepares to cope with cyclone
Islamabad, Oct 28 (IANS) Pakistan is gearing up to cope with a cyclone headed its way. National Disaster Management Authority (NDMA) has been asked to take necessary measures to meet the challenge posed by cyclone...
Read more on Politics Balla
 
Future-focused women fight climate change better
Washington, Oct 28 (IANS) Future-oriented women are more likely to take concrete steps to reduce global warming, says a study. "They are more politically liberal and liberals are more likely to value the environment...
Read more on Politics Balla
 
Infants know what your eyes tell
New York, Oct 28 (IANS) The ability to respond to eye cues develops during infancy - at seven or so months, finds research. "Our study provides developmental evidence for the notion that humans possess specific brain...
Read more on Business Balla
 
US concerned over Israeli decision on new homes
Washington, Oct 28 (IANS) The US is "deeply concerned" by reports that Israel would build more settler homes in east Jerusalem, the state department has said. "Israel's leaders have said they would support a pathway...
Read more on Politics Balla
 
Malaysian diplomat on sex attack charge granted bail
Wellington, Oct 28 (IANS) A Malaysian diplomat accused of a sex attack on a young woman here in May was granted bail on his second appearance since his extradition in the Wellington District Court Tuesday. Former...
Read more on Politics Balla
 
NASA tool to identify drought-resilient plants
Washington, Oct 28 (IANS) The US space agency is developing a new space-based instrument to study how plants react to heat and water stress and identify drought-resilient plants. The instrument called the ECOsystem...
Read more on Business Balla