M'sia, India sign 31 MoUs worth US$36 billion


NEW DELHI: Prime Minister Datuk Seri Najib Razak witnessed the exchange of 31 business Memoranda of Understanding (MOUs) with combined investments estimated at US$36 billion.

Najib, who is on a six-day trip to India, witnessed the signing of the MOUs with Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, at a business luncheon at the Taj Palace Hotel here.

Among the significant MoUs are an integrated maritime city deal of Carey Island Port between MMC Port Holdings Sdn Bhd, Sime Darby Property Berhad, Adani Ports and Special Economic Zone Limited, worth US$22.78 billion for a 30-year period; and Carey Island Port Project between MMC and Adani worth US$9.39 billion.

The MoUs cover port and highway construction, a solar power plant, the development of a smart city and technology park, a regasification terminal project, coconut and palm oil development, and higher learning education.