New Delhi, July 1 (ANI): Mauritius's State Trading Corporation signed a two billion dollar agreement with Mangalore Refinery and Petrochemicals Limited (MRPL) here on Thursday.
The MRPL, a subsidiary of Oil and Natural Gas Corporation (ONGC) signed an agreement for supply of liquid petroleum products amounting to 101 MMT per annum worth 660 US dollars at the current fuel prices.
Petroleum Minister Murli Deora and Mauritius Minister of Commerce and Industries Showkuttaly Soodhum witnessed the signing of the agreement.
The Secretary of Ministry of Petroleum and Natural Gas, S. Sundareshan, later addressing the media said that India was satisfied with the agreement and the relationship between the two nations.
"We are particularly satisfied with the agreement between Mangalore Refinery and Petrochemicals Limited (MRPL) and State Trading Corporation (STC), Mauritius for supply of petroleum products. These business ties for the past four years have added a yet another important dimension in our strong relationship," said Sundareshan.
"I am happy that the Government of Mauritius has entrusted the responsibility of supplying petroleum products for another three years to the MRPL. I can assure of high quality of petroleum products on time as per your requirements at most reasonable prices," he added.
The Mauritius Commerce and Industries Minister, Showkuttaly Soodhum, said that his country views India as a great potential partner vis-'-vis business operations and technology.
"We also seek assistance from India both at the technological level and at the corporate levels regarding setting of refinery hub at Mauritius. We understand that ONGC group of which MRPL belongs has a right competence and expertise in the core technological and business operation areas," said Soodhum. (ANI)