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Israel & India look for cooperation in transportation infrastructure sector

Mar '07
Israel government is in the process of preparing and executing a master plan in Israel in the field of transportation infrastructure, said Lt. Gen. Shaul Mofaz, Deputy Prime Minister of Israel at a meeting organized by The Confederation of Indian Industry (CII) here on Wednesday. The planned budget for Infrastructure will see a growth of 50% compared to current budget and there is immense scope for the Indian companies to take advantage of this opportunity, he said.

Israel government is looking forward to involvement of private companies in India as well as Israel in transportation infrastructure structure, said Lt. Gen. Mofaz. Israel is looking at collaboration with Indian Railways to upgrade the existing safety mechanism as well as planning to invest in other businesses also, he added.

He informed the participants that Israel is in the process of preparing a Master Plan for infrastructure development in Israel and this would highlight opportunities for Indian companies to look for investment opportunities in Israel. He stressed on Israel's expertise in providing state of the art Road safety infrastructure and said that they would look forward to contributing e to India in this area. Also, Israel would like to strengthen relationship with India in research and development, infrastructure and investment, said the Minister.

State Bank of India opened its branch in Israel today and this will further improve the trade relation between India and Israel, said Mr. Arun K Singh, Ambassador of India to Israel. This is the first Indian bank to operate from Israel, he added. This will facilitate momentum to the ongoing growth prospect of trade between India and Israel, added the ambassador.

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