Home | News    Monday 19 April 2004

Oil spurs Brand India’s African safari

separation
increase
decrease
separation
separation

By SANJAY DUTTA, the Times of India

NEW DELHI, April 19, 2004 — ONGC’s nearly $1 billion investment in Sudan’s oilfields has led to a revival for Made-in-India products, ranging from automobiles to oil technology.

Its overseas investment arm, ONGC Videsh (OVL), spent about $969 million to acquire stakes in the Greater Nile oilfield and two exploration blocks in the country.

This is the second biggest Indian investment overseas, after the $1.8 billion pumped into Russia’s Sakhalin gas fields.

The spin-off has proven more profitable than a few million tonnes of equity crude. Indian managers and workers at Greater Nile have not only won corporate battles against their Chinese and Malaysian partners, but have also put Indian goods back into focus of the locals.

While Indian automobiles topped Sudan’s shopping list sometime back, now it’s oil technology and equipment.

The latest example is a Rs 1,000-crore ($200-million) contract to domestic pipemaker PSL Ltd for a 785-km oil pipeline.

The job involves building a link from the Mellut Basin Oil Development Project - in which OVL has 16 per cent stake - to Khartoum, and is being awarded in the face of competition from global players.

Last year, the Sudanese government gave OVL the job of laying a 741-km pipeline to Port au Sudan and modernise the Khartoum refinery at a cost of nearly $600 million. An Indian firm, Mumbai-based Dodsal group, is set to bag the $175-million pipeline contract.

There are several other Indian firms in telecom, railways and power, making efforts to register a presence. These include TCIL, ITI, Rites, Konkan Railways, Ircon, Kirloskars and L&T.

But the biggest beneficiary of Indian oil investments has been the automotive sector. There is talk of Maruti reviving its agency there. Mahindra & Mahindra and Eicher are trying to enter Sudan.

President Abdul Kalam’s visit to Khartoum last October gave an impetus to bilateral trade.

The two countries signed the crucial Bilateral Investment Promotion & Protection Agreement, Double Taxation Avoidance Agreement and an MoU on co-operation in IT. India also announced a $50-m line of credit to Sudan.

This change has come about in past three years, in tandem with peace process in Sudan.

Bilateral trade grew 100 per cent, with exports to Sudan rising to Rs 580 cr in 2001-02 from Rs 234.10 cr in 1998-99. The EU has pledged to release $400 m as help for rebuilding Sudan after the peace pact

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.


The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Toward viable future for South Sudan 2021-02-23 06:27:19 A critique of ICG’s Africa Report No. 300, 10 February 2021 Dr Lam Akol The International Crisis Group (ICG) issued its Africa Report No.300 on 10 February 2021. The report attempts to address (...)

18th anniversary of armed struggle in Darfur 2021-02-23 05:21:00 By Mahmoud A. Suleiman This article comes against the backdrop of the equal participation of members belonging to the armed struggle movements from the Darfur region in ministerial positions and (...)

Museveni proposal for political ethnicization in South Sudan is wrong prescription 2021-02-06 07:40:14 By Steve Paterno I just came across a video clip of President Yoweri Museveni of Uganda addressing a delegation of the USA and UK on the situation about South Sudan. The meeting took place (...)


MORE






Latest Press Releases


Sudan: Performing arts is not a crime, assaulting women and artists is! 2020-09-20 08:54:28 The Strategic Initiative for Women in the Horn of Africa (SIHA) Sudan is still struggling with militant Islamist ideology KHARTOUM: Central Khartoum Primary Court issued a verdict against five (...)

Civil Society Statement in Response to The Law of Various Amendments 2020-08-14 07:11:00 A Collaborative Civil Society Statement in Response to The Law of Various Amendments (Abolishing and Amending Provisions Restricting Freedom) – Exposing ‘a wolf in sheep’s clothing’ Sudanese women (...)

Remarks by SRF leaders at the Friend of Sudan meeting on peace 2020-08-13 07:58:58 Chairman of the Friends of Sudan Conference, Your Excellency, Minister of Foreign Affairs of the Kingdom of Saudi Arabia, The Prime Minister of Sudan and the participating team from the (...)


MORE

Copyright © 2003-2021 SudanTribune - All rights reserved.