A top Indian oil dignitary says his country will invest $1 billion in Alberta's oil sands in the next 12 months, according to a story published through Reuters today by Jeffrey Jones.

MS Srinivasan is the secretary of India's Ministry of Petroleum and Natural Gas. He is heading an Indian delegation of interested parties to Calgary.

Srinivasan is quoted in the article as saying there are four Indian companies that are looking to invest in the region.