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At the World Economic Forum (WEF) 2024 in Davos, Union Minister Hardeep Singh Puri delved into crucial discussions concerning bilateral hydrocarbon trade and investment opportunities between India and Bahrain.
In a social media post on platform X, Minister Puri shared insights from his meeting with HE Iain Lindsay, Senior Adviser to the Managing Board of Bahrain Economic Development Board, where Mark Thomas, CEO of Bapco Refining, was also present. Minister Puri's post read, "In my meeting with HE Iain Lindsay, Senior Adviser to the Managing Board of Bahrain Economic Development Board, where we were also joined by Mr Mark Thomas, CEO of @Bapco Refining, Mr Lindsay & I discussed the emerging situation in the Middle East. We discussed how India, ranking as the 4th largest refiner globally with a current capacity of 254 MMTPA under the leadership of PM @narendramodi & Bahrain which is set to upgrade & expand the Sitra refinery with a planned startup in 2024, present significant opportunities to enhance mutual bilateral hydrocarbon trade & investment. We also discussed how with India's investment opportunity in the refinery cum petrochemical sector as well as 2G/3G biofuels refineries, companies from both sides can fruitfully engage in this sector". https://twitter.com/HardeepSPuri/status/1747504045869387828?s=20 The focus of the discussion centred on leveraging India's prowess as the 4th largest global refiner and its substantial refining capacity. Under the leadership of Prime Minister Narendra Modi, India has become a key player in the hydrocarbon sector. The planned upgrade and expansion of Bahrain's Sitra refinery, scheduled for 2024, aligns with India's vision for collaborative growth in the sector. Minister Puri highlighted the potential for mutual engagement in the refinery cum petrochemical sector and the production of 2G/3G biofuels refineries. These avenues provide promising investment opportunities for companies on both sides, fostering a fruitful partnership in the hydrocarbon domain. The meeting emphasized the shared commitment to exploring innovative approaches to the evolving situation in the Middle East and enhancing economic cooperation between India and Bahrain. As India positions itself as a global leader in refining capacity and Bahrain prepares for significant upgrades in its refinery infrastructure, the bilateral discussions at WEF Davos 2024 set the stage for a new chapter in collaborative efforts, contributing to the growth and development of the hydrocarbon trade between the two nations. (ANI)
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