Indians eye $42M worth of investments

Businessmen from India are eyeing $42 million worth of investments in the Philippines, the Board of Investments (BOI) said in a report.

The BOI said an investment mission to India recently yielded three energy projects and a pharmaceutical packaging plant.

The energy projects are two 20-megawatt stand-alone liquefied natural gas power plants in Tawi-Tawi and Cagayan, and a 1.5MW mini-hydroelectric power plant in Abra, the report said.

Bilateral trade between India and the Philippines had grown steadily through the years, from $180 million in 1998 to $372 million in 2004. Indian exports to the Philippines stood at $283 million while imports from the Philippines reached $89 million.

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