Gammon Saudi Arabia intends to invest $4.5 billion on thermal projects in India, said Faiz Al-Abideen, CEO of the group. “We have presented the project to Indian Prime Minister Narendra Modi during a meeting in Colombo on Friday and has agreed to study the project,” he told Arab News.

He said his meeting with Modi, along with Sheikh Rafik Mohammed, chairman of Gammon, was successful and fruitful. “The prime minister has invited us to New Delhi for a detailed discussion on the project,” he added.

Modi was on an official visit to Sri Lanka, the first by an Indian prime minister in 28 years.

India has offered to build 50,000 homes for the homeless in Jaffna. “Gammon will build 25,000 of these homes. More than 15,000 Muslims in the region will benefit from this housing bonanza,” Al-Abideen said.

Al-Abideen said Modi has agreed to encourage more Indian companies to invest in the new developed Jazan Industrial City, south of the Kingdom. “The Saudi government offers soft loans worth 75 percent of the project for 20 years for companies investing in the city,” he pointed out.

“We intend to meet Modi in New Delhi within two months for further discussions,” he said.

The Gammon chairman and chief executive also met with Ameer Ali, deputy minister of housing in Sri Lanka to discuss various projects. “We have signed deals to construct two residential towers with 30-floors each,” Al-Abideen said.

“We have also agreed to develop five-acres of seafront in Colombo, and a condominium with a 100-room hotel. We’ll invest about $30 million in the project.”