Saudi Arabia is planning to invest in India’s infrastructure fund as Crown Prince Mohammed Bin Salman is set to arrive in the South Asian nation next week.

 

The cabinet on Tuesday authorized the Minister of Energy, Industry and Mineral Resources or his deputy to discuss and sign with the Indian side a draft of a memorandum of understanding in the field of investment with the National Investment and Infrastructure Fund (NIIF), Saudi Press Agency reported.

 

In October 2017, Abu Dhabi Investment Authority subsidiary signed a $1 billion investment agreement NIIF. Last year, Dubai-based port operator DP World and NIIF announced plan to jointly invest up to $3 billion in India.

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