India among largest foreign investors in Russia
India has been identified among the top investors in Russia's oil and gas sector in Jan-September 2006.
By PTI |
MOSCOW: India, with an investment of $130 billion, is among the largest investors in Russia, a government agency report said on Monday.
"India, Britain, The Netherlands, Cyprus, France, Germany, Luxemburg, Switzerland and the United States were the largest investors in Russia, accounting for 82.3 per cent of country's total accrued foreign investment and 84 per cent of total Foreign Direct Investments (FDI) during the reporting period," the Federal Statistics Service said.
India has been identified among the top investors in Russia's oil and gas sector in Jan-September 2006 with a total investment of USD 1.543 billion including 21.7 per cent sectoral share of USD 1,425 billion in FDI, report said.
ONGC Videsh's investment of USD 3 million in offshore Sakhalin-1 oil and natural gas production sharing arrangement is said to be the largest single Indian investment.
Accrued foreign investment in Russia totaled USD 130 billion as of October 1 up by 34.8 per cent year-on-year, of which USD 35.3 billion came in January-September 31.7 per cent more than last year, the Federal Statistics Service said.
Foreign direct investment (FDI) accounted for 49.3 per cent of the total figure up by 4.4 percentage points from 44.9 per cent from October 1, 2005.
The share of investment in form of international financial organisations' loans and trade credits contracted 4.3 percentage points to 48.8 per cent from 53.1 per cent last year. However, the share of foreign portfolio investments shrunk down to 1.9 per cent from 2 per cent in 2005.
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