Riyadh – Mubasher: Saudi Arabia is looking to invest in India’s infrastructure fund as the kingdom’s crown prince will be heading to the South Asian nation next week.

It is worth noting that Saudi Crown Prince Mohammed bin Salman will visit India, the country with the fastest-growing appetite for energy, for the first time on 19 and 20 February.

The Saudi energy minister has been assigned by the cabinet to study possible investment in the National Investment and Infrastructure Fund (NIIF), the Saudi Press Agency reported.

The kingdom walks in the footsteps of Abu Dhabi’s sovereign wealth fund, which is the first institutional investor in NIIF’s Master Fund in 2017 with a commitment of $1 billion.

In 2018, Dubai-based DP World Ltd and NIIF announced a plan to jointly invest over $3 billion in India.

In November, Bin Salman and the Indian Prime Minister Narendra Modi had met in Buenos Aires and discussed investment opportunities through the Saudi Public Investment Fund.

Saudi Arabia supplies around 20% of India’s crude requirements and is the South Asian nation’s fourth-largest trading partner.