India eyes Angola’s oil and rare earth riches in an ambitious energy push.
The partnership is intended to help India meet its energy requirements.
India wants to invest in Angola’s exploration of crucial and rare earth minerals and petroleum refining.
The Indian president met with her Angolan counterpart, President Joao Manuel Goncalves Lourenco, at the delegation level to begin her four-day state visit, as reported by The Hindu Businessline.
Droupadi Murmu disclosed on Sunday that Indian businesses were also “interested” in prospects pertaining to the manufacturing of fertilizer, diamond processing, and the exploration of crucial and rare earth minerals.
The first day of her visit ensured that the two countries issued several Memorandums of Understanding (MOUs) intended to deepen bilateral ties on topics like fisheries, aquaculture, and marine resources.
“Angola’s role in India’s energy security is very important. India is a major buyer of Angola’s oil and gas… Our oil and gas companies are desirous of entering into a long-term purchase contract with Angola,” Murmu stated.
The Indian president also asserted that Indian businesses are “capable of” exploring vital and rare earth minerals.
Regarding defense cooperation, she stated that “we are ready to fulfil Angola’s defense-related requirements” and that India was a “trusted” exporter of defense equipment.
Speaking on the visit Angola’s president had paid India back in May, she said that India had extended a defence ‘line of credit’ for Angola, which will see “quick implementation.”
The Indian President also mentioned that high-speed “Vande Bharat” trains might be supplied to Angola, extending India’s support by enhancing Angola’s road and transportation infrastructure.
Source: Africabusinessinsider
