Heads of private and PSU refiners, including Mukesh Ambani of RIL and Essar's Shashi Ruia, and IT poster boys Azim Premji and S Ramadorai figure in the business delegation accompanying Prime Minister Manmohan Singh on his maiden visit to Saudi Arabia next week.
Oil cartel OPEC kingpin Saudi Arabia is India's largest crude oil supplier. The presence of heads of Indian Oil, Bharat Petroleum and Hindustan Petroleum, along with Ambani's and Ruia's, was to emphaise the importance New Delhi places on the Gulf nation for its energy needs, official sources said.
Arguably the most powerful, the delegation would explore strategic relations with the oil rich nation during Singh's two-day visit from February 27. A contract to set up a USD 750-million joint investment fund will be signed during the visit. Saudi Arabia will contribute USD 500 million.