Oil and gas companies from India are looking to partner with Angola in the energy sector via a long-term purchase contract, according to India’s president, Droupadi Murmu, who is on a four-day visit to the Southern African country.
The partnership is intended to help India meet its energy requirements, with India aiming to foster long-term partnerships with Angola to secure energy supplies and enhance defense cooperation. President Murmu highlighted India’s interest in Angola’s exploration of 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. 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 saw the two countries issue several Memorandums of Understanding 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.
“Angola is amongst the prominent diamond-producing countries of the world, and India is a leader in diamond cutting and polishing. We can use our respective strengths in this domain for mutual benefit,” she added.
The Indian president also asserted that Indian businesses are capable of exploring vital and rare earth minerals. Regarding defense cooperation, she stated that India was a trusted exporter of defense equipment and ready to fulfil Angola’s defense-related requirements.
Speaking on the visit Angola’s president had paid India back in May, she said that India had extended a defense 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.
On Sunday, Murmu was officially welcomed at the Presidential Palace by President Lourenco, which began with a 21-gun salute and a ceremonial guard of honour.
Source: africa.businessinsider.com