India-Malaysia inks $36-bn infra pact

    India-Malaysia infra pact
    In order to take their partnership to newer high, the Malaysia-based infra building majors have recently inked partnership with the Indian infra builders of global repute entailing a staggering investment of $36 billion. Malaysian companies have identified local firms such as GMR Infrastructure and MEP Infrastructure, among others, to build infra projects worth $32.13 billion in Malaysia while $3.86 billion of infra projects will be executed on the Indian shore. Malaysian Prime Minister Najib Razak is currently visiting India on the invitation of Indian Prime Minister to take forward the bilateral trade ties and also allied relations between the two nations. Commerce and Industry Minister, Nirmala Sitharaman said that Malaysia's expertise in infrastructure development and India‘s ambition of $1 trillion investment in infrastructure would offer huge business potential to both the countries. GMR Energy and Malaysia‘s TNB Repair and Maintenance Sdn Bhd, signed a pact to set up a joint venture for refurbishment and maintenance of power plants in India. The key objective behind signing of the pact is to optimize the operations of the Indian power plants in a bid to enhance availability, output, and efficiency of power plants.
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