[lbo-talk] 'Oil boom in the Gulf will throw up $1 tr surplus capital'

[uvj at vsnl.com]

The Hindu Business Line
http://www.blonnet.com/

Tuesday, Jan 24, 2006

Industry & Economy - Infrastructure

'Oil boom in the Gulf will throw up $1 tr surplus capital'
Our Bureau
http://www.thehindubusinessline.com/2006/01/24/stories/2006012402720300.htm

Kolkata , Jan. 23

THE oil boom in the Arab countries will lead to the generation of $1
trillion investible surplus capital (both private and public) in the region,
and a massive capital investment programme was expected to be laid out in
areas such as oil and gas exploration, construction, engineering,
transportation, hotels, education, logistics etc.

This was stated by Mr Faysal Abou Zaki, Deputy Editor-in-Chief, Arab
Business Magazine, Lebanon, while delivering his speech at the just
concluded CII Partnership Summit 2006. Mr Zaki, speaking at a Round Table
meet on `Economic diversification and political reforms in the Arab world -
Impact on India', said this offered a tremendous opportunity for Indian
companies looking at investing abroad, particularly in the Arab world. In
his opinion, companies with massive surplus would be looking for
acquisitions abroad, and that there was strong likelihood of them seeking
out projects in India, especially in the hotel and tourism sectors.

India, Mr Zaki pointed out, besides increasing trade with the Arab
countries, also needed to attract FDI from the region. "India should see the
Arab market as a strategic market."

Mr Prashant Gulati, Hon. Secretary, Indian Business and Professional Council
(IBPC) invited the Indian companies to raise capital in the UAE.

Copyright © 2006, The Hindu Business Line.