Concerns raised over Rs 82,000 cr Essar deal

Source: The Hitavada      Date: 17 Jul 2017 09:15:44


 

NEW DELHI,

Central security agencies have raised concerns over the takeover of Essar Oil by a Russian oil firm Rosneft citing the proximity of its port to Pakistan and nearby defence assets

 

CENTRAL security agencies have raised concerns over the mega Rs 82,000 crore takeover of Essar Oil by a Russian consortium citing the proximity of its port to Pakistan and nearby defence assets, according to a Government official.
The agencies have communicated to the Home Ministry about their security concerns over the deal, the official, who did not wish to be named, said.


A final decision on the issue will be taken by the Prime Minister’s Office as the deal, considered to be one of the largest foreign investments in the country, was signed in the presence of Prime Minister Narendra Modi and Russian President Vladimir Putin on the sidelines of the BRICS summit held in Goa last year, the official added.


When contacted, a home ministry spokesperson said a decision on granting security clearance to the proposed foreign takeover by Rosneft is yet to be taken. “The matter is still under process,” the spokesperson said when asked whether the port in Gujarat was coming in the way
of the deal.