Paris: France is reportedly preparing for its first meeting to discuss an infrastructure link that would connect India to Europe via the Middle East, countering a similar Chinese initiative.
President Emmanuel Macron has appointed Gerard Mestrallet, former CEO of French energy utility Engie SA, as his envoy to lay the groundwork for the project. The concept, dubbed IMEC, aims to establish a network of railroads, ships, gas pipelines, and internet cables.
“I’d like to convene the representatives of other IMEC member states in a gathering in the next two months,” Mestrallet told Bloomberg in an interview, adding that it was too early to determine the specifics of the meeting.
The plan, initially announced on the sidelines of the Group of 20 summit in New Delhi last year, could take a decade or more to materialize, according to Mestrallet. It gained traction after Russia’s invasion of Ukraine but faced setbacks during the Israel-Hamas conflict, escalating tensions in the Middle East and underscoring the need for alternative and secure trade routes.
Member nations of the India-Middle East-Europe Economic Corridor include the US, India, Saudi Arabia, the United Arab Emirates, and the European Union. It remains unclear who will represent other countries during the meeting, as France is the only participant that has named a sherpa for the talks.
Several French companies have already expressed interest in participating in discussions surrounding the project, Mestrallet noted.
Shipping giant CMA-CGM, energy behemoth TotalEnergies SA, train builder Alstom SA, logistics company Getlink SE, state-owned Electricite de France SA, industrial gas specialist Air Liquide SA, and cable-builder Nexans SA could contribute to various energy and logistics projects, along with construction firms such as Vinci SA and Bouygues SA.
China’s Belt and Road Initiative, launched over a decade ago, seeks to connect Asia, Africa, and Europe through a network of railroads and trade deals, aiming to bolster Beijing’s influence.
