The country's largest bank, State Bank of India has signed a memorandum of understanding with Oman's State General Reserve Fund, for a $100 million Indo-Oman joint investment fund, during Prime Minister dr Manmohan Singh's visit to the West Asian Sultanate. The Indo-Oman Joint Investment fund will be used for making investments in infrastructure, tourism, health, telecom, utility and urban infrastructure and other sectors. The fund will have an equity contribution of $100 million or in equivalent currency contributed by both parties equally on mutually agreed terms and conditions. The fund can be enlarged in size to a maximum of $1.5 billion, through long-tenor debt and equity capital in several tranches over the next few years. The agreement also allows both investors to invite other investors to participate in the fund. […]