ONGC to bid for Israeli oil and gas exploration
The Dollar Business Bureau ONGC, India’s state run oil and natural gas corporation is planning to bid to explore the Israeli oil and gas blocks. This was revealed to the media by the Oil minister, Dharmendra Pradhan today. This could be the first major deal between the two countries. Dharmendra Pradhan had met his Israeli counterpart Yuval Steinitz on the sidelines of the World Petroleum Congress soon after after Prime Minister Modi visited Israel and signed trade deals worth billions of dollars. Israel had issued tenders last year calling for licences to drill 24 blocs of upto 400 square kilometres in size and Indian energy companies like ONGC had announced their participation. According to an evaluation released by the Israeli Ministry of Energy, the Levant ...
Adventz Groups Texmaco signs $2 bn MoU for Israel light rail
The Dollar Business Bureau Indian conglomerate Adventz Group said on Tuesday that it has signed a $2 billion-plus MoU with the Israeli construction and development company Lesico Group to collaborate in the light rail transit (LRT) projects in Jerusalem and Tel Aviv. The announcement came in the backdrop of a top-level Indian political and business delegation led by Prime Minister Narendra Modi visiting the Jewish nation currently. The historic visit – first time for any Indian Prime Minister – is being seen as a watermark in deepening economic and trade relationships between New Delhi and Tel Aviv. “The memorandum of understanding (MoU) between Lesico with Adventz Group will be a first for an Indian conglomerate with group company Texmaco Rail & Engineering Limited, which ...
India, Israel keen on Make in India for defence manufacturing
Sai Nikesh | The Dollar Business A day after the “Aero India” show, the Government of India is pitching for indigenous construction of $8billion worth six nuclear-powered submarines and Rs 1 lakh crore-and above-worth seven stealth-technology-enabled frigates promoting domestic manufacturing. According to a report, the Indian Cabinet Committee on Security (CCS) has taken decision to build six nuclear submarines to strengthen India’s naval power in the Indian Ocean, besides the construction of seven stealth-technology-enabled frigates under the Rs 50,000 crore Project 17-A in Mumbai and Kolkata under Make in India policy. Simultaneously, India is soon to approve an order of two ‘Phalcon’ class interceptor aircraft from Israel Aerospace Industries (AIA) to the tune of $1.1 billion. Deal to purchase radar ...
