PM Modi meets Crown Prince of Abu Dhabi; India, UAE sign 5 pacts

The Prime Minister thanked the Crown Prince for the special gesture of receiving him at the airport and said his visit will have a positive impact on India-UAE ties.

Image: Twitter

Abu Dhabi: Prime Minister Narendra Modi held wide-ranging talks with Crown Prince of Abu Dhabi Mohamed bin Zayed Al Nahyan as the two sides signed five agreements including a historic pact awarding a consortium of Indian oil companies a 10 per cent stake in offshore oil concession. Modi, who arrived here from Jordan on the second leg of his three-nation tour, was received by Mohammed Bin Zayed and other members of the Royal family at the airport. The two leaders hugged each other and exchanged pleasantries. The Prime Minister thanked the Crown Prince for the special gesture of receiving him at the airport and said his visit will have a positive impact on India-UAE ties. "We warmly welcome our state guest and valued friend, the Indian Prime Minister H.E.@narendramodi to the UAE. His visit reflects our longstanding historical ties and is testament to our friendly bilateral relationship," Mohammed Bin Zayed, also the Deputy Supreme Commander of the UAE Armed Forces, tweeted. Prime Minister Modi, who is here on his second visit to the UAE, held wide-ranging talks with and Mohammed Bin Zayed. Modi had first visited the UAE as prime minister in August, 2015. After their talks, the two sides signed five agreements related to energy sector, railways, manpower and financial services. An MOU between Indian Consortium (OVL, BPRL & IOCL) and Abu Dhabi National Oil Company (ADNOC) was signed for the acquisition of a 10 per cent participating interest in the Abu Dhabi's offshore Lower Zakum Concession, a statement issued by the Indian embassy here said. The concession will be for 40 years from 2018 to 2057. Sixty per cent of the participating interest will be retained by ADNOC and remaining 30 per cent will be awarded to other international oil companies, the statement said.