24.03.2010 - India: Sovereign wealth for energy assets?
From Financialexpress.com: The petroleum ministry has mooted the idea of a sovereign fund to help finance acquisition of energy assets by Indian companies abroad. The ministry has proposed setting aside a part of India’s $254 billion forex reserves for this purpose. This is a welcome move because it would help Indian companies like ONGC Videsh (OVL) to take on competition from their Chinese counterparts that are backed by a similar fund created by the Chinese government...................................Full Article: Source
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