India eyes $2.5 bln investment in Canada tar sands

Indian firms could invest $2-$2.5 billion for stakes in Canadian tar sands projects, a top official said on Thursday, as part of efforts to secure overseas energy assets to fuel the country’s fast-growing economy.

Oil Secretary M.S. Srinivasan said at the World Petroleum Congress in Madrid the companies were looking to pick up holdings rather than buy foreign firms.