Abu Dhabi: Among the Memorandums of Understanding signed during ongoing visit of Prime Minister Narendra Modi to United Arab Emirates, one MoU is about setting up ship repair cluster at Vadinar in Gujarat.

The MoUs were signed between two countries in presence of Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan.

The other MoUs are related to Strategic Petroleum Reserves, supplies of Liquified Petroleum gas (LPG).

Agreement on Framework for the Strategic Defence Partnership and investment worth 5 Billion US dollars in Indian Infrastructure, RBL Bank, Samman Capital were also announced.

It’s worth noting that the Union Cabinet chaired by Prime Minister Narendra Modi had recently taken a decision for Rs. 1570 crore ship repair cluster at Vadinar in Gujarat. DeshGujarat

Here is the list of key MoUs and agreements exchanged between Prime Minister Narendra Modi and UAE President HH Sheikh Mohamed bin Zayed Al Nahyan:

• Agreement on Framework Strategic Defense Partnership: A foundational agreement to enhance defense and security cooperation between the two nations.
• Strategic Petroleum Reserves: An MoU focused on strategic petroleum reserves, which includes plans to expand reserve capacity to 6.5 million metric tons.
• Long-term Supply of LPG and Crude: An agreement securing the long-term supply of liquefied LPG, gas, and crude oil to India.
• Ship Repair Cluster: An MoU to establish a new ship repair cluster in Vadinar.
• Indian Infrastructure Investment: An agreement securing an investment of $5 billion USD from the UAE specifically dedicated to developing Indian infrastructure.

Additionally, during the talks, both leaders acknowledged the previously established Comprehensive Economic Partnership Agreement (CEPA) as a crucial milestone that continues to elevate the strategic and trade relationship between India and the UAE.