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Nitin Gadkari invites Korean companies to invest in infrastructure & logistics


On the final leg of his visit to the Republic of Korea last week, the Union Minister of Road Transport, Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation, Mr Nitin Gadkari, addressed the delegates of the Korea-India Infrastructure Cooperation Forum in Seoul. Leading members from the infrastructure business of both countries participated and exchanged views on the potential for doing business for mutual benefit.


Speaking on the occasion, Mr Gadkari said that India has plans to construct 12 expressways with an investment of over Rs 1 lakh crore. This, he said, would present huge opportunities for Korean businesses. Similarly, developing the national waterways for commercial navigation in India, and the plans to develop shipbuilding, fisheries and the port sector will also create investment opportunities, he said. Mr Gadkari conveyed the Indian government’s commitment for facilitating all foreign businesses wanting to invest in India.


He earlier met the leading members of the Korean financial sector to explore ways for greater Korean involvement in financing interlinking of rivers, highway construction, developing logistics parks and shipbuilding activity in India. An important aspect of the cooperation would be to enhance training and discussion among experts from both sides. Indian highway engineers and shipbuilding engineers can be trained at specialised training institutions of the Republic of Korea to expose them to the systems in place there. Korean companies stressed that they were keen to work on the Nagpur-Mumbai expressway project.


Mr Gadkari also met with the Korean Minister for Land and Infrastructure (MOLIT), Ms Kim Mee Hyun. The two Ministers discussed the prospects of cooperation in developing smart highways. Ms Hyun said Korea is committed to enhance cooperation based on the commitments made during the visit of PM, Mr Narendra Modi, in 2015. A draft Memorandum of Cooperation in the infrastructure sector is likely to be finalised soon. This will provide a sound institutional framework for enhancing bilateral engagement, said a release.


Source: Exim News Service - New Delhi/Seoul, April 15


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