Around 25 Indian engineering firms of the power and oil exploration sectors are set to explore business prospects in a major energy show in Saudi Arabia's capital Riyadh May 26.
EEPC India, formerly known as Engineering Export Promotion Council, and India's commerce and industry ministry will organise the India Pavilion at the Saudi Energy Show 2014 at the Riyadh International Convention and Exhibition Centre May 26, the Saudi Gazette reported Tuesday.
The Indian embassy in Riyadh is promoting the Indian participation in the show, where Indian companies with capabilities in critical machinery and technology products can explore new business possibilities.
The three-day Saudi Energy Show 2014 will showcase the latest sectoral products, services and technologies to a large group of professional visitors from Saudi Arabia and the region.
Some companies from the small and medium enterprises (SMEs) sector from Gujarat are also participating in the exhibition.
The energy sector in Saudi Arabia is witnessing unprecedented growth due to a significant rise in demand and a considerable increase in investments.
India-Saudi Arabia bilateral trade exceeded $43 billion in 2013-14 and has already exceeded $43.6 billion in April 2013-February 2014.
The Indian engineering capabilities can cater to the oil exploration sector as well. Several companies like Engineers India Ltd. have been active in the Middle East.
India is also emerging as a potential refining hub because of lower capital costs to the extent of 25-50 percent in comparison to other Asian countries, the report said.