Saudi authorities have announced that the bilateral investment relations with India are at a new high with the investments surging to $24 billion, reported SPA.

 

This volume of investments and trade exchange between the two is set to hit $100 billion in the next five years, it stated. 

 

The trade exchange of petrochemicals is estimated at $9.13 billion, and $1.03 billion in agricultural petrochemicals and fertilizers, said Saudi officials at signing ceremony held yesterday (August 28) in the presence of the Director of the Branch of the Ministry of Industry and Mineral Resources of the Region Abdulaziz Al Shuaibi and other senior officials at the Asharqia Chamber in Dammam.

 

Deal to export agricultural and industrial sulphur products to India and East Asian countries with over 100,000 tonnes per year was also inked, it added.