Russia Invites Indian Investors To Join Promising Projects In Far East - Ministry

VLADIVOSTOK (UrduPoint News / Sputnik - 12th August, 2019) Indian business circles have been invited to participate in a wide range of investment projects in Russia's Far East, the Russian Ministry for Development of the Russian Far East and Arctic said on Monday, as the region welcomes a high-level delegation from New Delhi.

The Indian delegation led by Commerce and Industry Minister Piyush Goyal is on a visit to Vladivostok to meet with Russian Federal and regional officials, ahead of the 5th Eastern Economic Forum (EEF), which will be held from September 4-6. During special sessions on Monday, the Russian side presented most promising projects in the region to Indian government officials and business community.

In particular, Indian investors have been asked to explore the growing diamond mining sector in Russia's Far East.

"The discussions focused not on production, but on diamond cutting. Two diamond cutting clusters are being established in the Far East - in Vladivostok and Yakutia.

The session was attended by 13 companies operating in the field of diamond cutting and jewelry industry. Our agency is ready to provide Indian investors with support in launching projects and searching for partners in Russia," Daniil Polovinka of the Far East Investment and Export Agency said.

The discussions also concerned projects in coal and metal mining, pharmaceuticals, tourism and agriculture. The Indian delegation, in particular, showed interest in growing and processing soy beans in Russia's Far East.

The sides also discussed supplies of liquefied natural gas (LNG) from Russia's Far East to India, including major projects of Russian energy company Novatek on construction of an LNG transshipment terminal in the Murmansk Region and Kamchatka, as well as Russian energy company Rosneft's plans to create an Arctic cluster that will help to reach 80 million tonnes in freight volume along the Northern Sea Route by 2024.