(PTI)
An informal ministerial group that included Home Minister Amit Shah Tuesday reviewed state-run Bharat Petroleum Corp Ltd’s USD 2.2-2.4 billion investment proposal in a giant gas field in Mozambique as the government attempted to do deeper scrutiny of overseas investments to avoid the fiasco of the past.
Sources said others in the group were Foreign Minister S Jaishankar, Commerce Minister Piyush Goyal, Oil Minister Dharmendra Pradhan and NITI Aayog CEO Amitabh Kant and the review was a prelude to the investment proposal going to the Cabinet Committee on Economic Affairs (CCEA) for formal approve.
Pradhan had in the past been critical of the nearly USD 6 billion spent by the Indian public sector firms to take 30 per cent stake in the Rovuma Offshore Area-1 in Mozambique during the Congress-led UPA regime, as falling oil and gas prices did not justify such huge investment.
