RIYADH (Reuters) - India's Reliance has signed a letter of intent with Saudi Aramco to buy 20% of its oil and chemical activities.
The announcement came a week after India abolished self-rule in its part of Jammu and Kashmir, in preparation for its annexation to the rest of the Indian territory, which Pakistan strongly rejected.
Under the initial agreement between the two companies, Aramco will provide the Reliance refinery on the west coast of India by half a million barrels per day.
Investments in Kashmir
Reliance president and India's richest man Mukesh Ambani said the possible deal with Aramco - worth $ 15 billion - would be the biggest foreign investment in Reliance's history and India's overall.
The Indian media quoted Ambani as saying that his company will announce in the coming days about investments in Jammu and Kashmir following the decision of the Indian government to divide the part controlled by the two provinces after the decision to abolish autonomy in the region.
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Pakistan has described the Indian move as unacceptable and stressed that any solution to the Kashmir issue should be based on a Security Council resolution, which provides for a referendum among the people of the region to determine their fate. Islamabad called on the international community not to remain silent about the Indian decision and to protect the people of Jammu and Kashmir from Indian violations.
Residents of the Muslim-majority region of Kashmir have been demanding independence from India and joining Pakistan since the two countries gained independence from Britain in 1947.
Pakistani anger
The deal between Aramco and Reliance has sparked outrage among Pakistan's social media. Kashmir. "
"How can we wait for Saudi support for us in Kashmir and Aramco has bought a 20% stake in Reliance India?" Said Pakistani journalist and writer Muhammad Malik on his Twitter account. For the dollar. "
Saudi Arabia invests in India |
The Organization of Islamic Cooperation, based in Jeddah, Saudi Arabia, expressed in its statement issued on the fourth of this month, "concern about the deployment of India paramilitary forces in Jammu and Kashmir, and the use of Indian forces banned cluster munitions against civilians."
The organization expressed its solidarity with the people of Jammu and Kashmir after India violated the ceasefire in Kashmir, calling on the international community to "find a peaceful solution to the conflict through the democratic way of holding a free and fair referendum."
UAE Ambassador
Prior to the announcement of the Saudi-Indian deal, UAE Ambassador to New Delhi Ahmed Al-Banna expressed Abu Dhabi's support for India's decision to abolish Kashmir's autonomy.
"The reorganization of states is not a unique event in the history of an independent India, and it is mainly aimed at reducing regional inequality," the UAE ambassador was quoted as saying by the UAE's Gulf News. And improve efficiency. "