India moving into Kazakh energy

NEW DELHI, June 19 (UPI) -- While Russia and the West have dominated the development of Caspian energy reserves, China and India are also making significant deals in the region.

Kazinform news agency reported June 19 that a high-level business delegation from India under the auspices of the Confederation of Indian Industry will arrive in Kazakhstan for a four-day visit beginning on June 21. The mission will visit Astana and Almaty.

The delegation includes representatives from India's largest automotive company, Tata Motors, and Larsen & Toubro Ltd., the country's largest engineering company, as well as officials from McNally Bharat Engineering Co. Ltd., one of India's leading Indian engineering concerns. All the companies have expressed interest in participating in major engineering and infrastructure joint venture projects in Kazakhstan, including the oil, gas and construction sectors.

The Indian interest dovetails with the Kazakh government's frequently expressed interest to broaden its international contacts in order to diversity its economy.

The delegation is building on the momentum from Kazakh President Nursultan Nazarbayev's state visit to India in January; the following month Indian company ONGC Mittal Energy Ltd. received a 25 percent stake in Kazakhstan's offshore Caspian Satpaev project.