Assam company to invest $8 million in Colombia

February 22nd, 2011 - 9:43 pm ICT by IANS  

New Delhi, Feb 22 (IANS) Oil and gas exploration firm Assam Company India Limited Tuesday said that it will invest $8 million on exploring for hydrocarbons in Colombia. The announcement was made by Colombian Ambassador to India Juan Alfredo Pinto here, who said the investment would be made under a memorandum of understanding (MoU) signed between the company and the Colombian government.

“This is new proof of the confidence that our country has in India, where Colombia is known for its democratic stability,consistency in macroeconomic management and its positive environment for foreign direct investment,” Pinto said.

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