EIL spreads its presence across Arab world
Engineers India is expanding in North Africa, the Middle East and Iran.
EIL wants its new office in Riyadh operational by 19th November to coincide with a proposed visit to Saudi Arabia by oil minister Mani Shankar Aiyar. This decision was taken during a board meeting on 24th September when EIL directors agreed to accelerate registration of the new office so that could Aiyar inaugurate it during his visit.
Directors also approved plans to acquire 49% of Algerian company SAFIR and mandated directors (finance) DS Chakraborty and (commercial) PK Saha to begin talks. EIL also wants to set up a subsidiary in Iran for a slice of the $100m new business it expects over the next five years.
In Libya, EIL noted local objections to its new office and solemnly resolved, Not to interfere in the political affairs of The Great Socialist Peoples Libyan Arab Jamahiriya. BPCL director Mukesh Rohatgi replaced MK Dalal as EIL chairman on 1st October.