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Reliance Industries of the Mukesh Ambani group is planning to explore oil in Sri Lanka, for which talks with the government of Sri Lanka are in progress.
Sri Lanka's Minister of Investment Promotion Navin Dissanayake told the media on Modnay from New Delhi that the government of Sri Lanka is "in talks with Reliance for petroleum exploration". He also told that Reliance Industries is keen for exploration in Munnar as well as the Southern basins.
The Indian unit of Cairn Energy has already entered an oil block located in the Munnar fields with an investment of about $400 million.
"So, if Reliance is coming, it will be into that figure at least," said Dissanayake. He will be holding talks with the officials of Reliance Industries in Mumbai.
He added that Sri Lanka was also in talks with Mahindra group to set up a IT park at an investment of $70 to $100 million.
Besides, another major Indian industrial group, Aditya Birla Group, has sought to build a $50-million Carbon Black factory in the island country, Dissanayake added.
