Projects worth more than US$5.3 bln to be signed during Najib's visit to India

The proposed development of an urea and ammonia manufacturing plant in Malaysia is among five projects, worth more than US$5.3 billion (RM23.32 Billion), that is expected to be signed during Prime Minister Datuk Seri Najib Tun Razak's visit to India.

The US$2 billion plant, with a capacity to produce 2.5 million tonnes per annum, will be dedicated to supplying the Indian market.

Its location and project partners will be announced on Saturday, said a Malaysian official.

Besides, a joint venture between a Malaysian firm and Indian company is expected to see the establishment of a US$500 million Floating Storage and Regasification Terminal in Kakinada Port, Andhra Pradesh.

MIGHT Technology Nurturing Sdn Bhd, a subsidiary of the Malaysian Industry-Government Group for High Technology, is also expected to ink a deal with the Andhra Pradesh Economic Development Board to set up a 40 hectare technology park in Amravati.

Details of other Memorandum of Understandings and agreements are expected to be announced when Najib meets with his host and counterpart, Narendra Modi, at Hyderabad House here on Saturday.

More projects are also on the cards for Malaysian firms, with the Indian media reporting that seven bids, worth between US$1.2 billion and US$1.4 billion, have been put forward by Malaysia's Construction Industry Development Board for Rajasthan state highways.

Najib, who arrived in Chennai on Thursday and due to fly into the capital city later Friday, will visit Rajasthan's capital, Jaipur, on Sunday to explore business and investment opportunities for Malaysian companies.

During his six-day official visit, which also commemorates the 60th anniversary of diplomatic relations between the two countries, Najib will meet India's captains of industries.

Local media reported that IRCON International of India will use the opportunity to lobby for the laying of railway tracks for the Serendah-Klang-Seremban line.

The Indian rail engineering firm recently completed the Seremban-Gemas double-track line.

The Prime Minister is also expected to attend a business luncheon and the 7th Global Science and Innovation Advisory Council Meeting here on Monday. -- Bernama