India to be a key investor in Persian Gulf SEZ

By agencies   |   Monday, 18 April 2005, 19:30 IST
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DUBAI:India would be one of the key investors in the Persian Gulf Special Economic Zone (PGSEZ), which is hoping to attract $2.5 billion in foreign investment, a zone official has said. The official said the investment target was poised to go up to $7 billion in the next few years as the SEZ boosts facilities. Port facilities are being expanded in the SEZ to handle 12 million tonnes annually. He said an Indian company had expressed willingness to invest in energy and steel in the SEZ, but did not name the investor.