Ahmedabad/New Delhi: Ahead of chief minister Narendra Modi's China visit, an Memmorandum of Understanding(MoU) was signed on Thursday between the state government and the Chinese firm, TBEA Energy (India) Private Ltd, for a Green Energy Park in Karjan near Vadodara.
The MoU was signed by Maheshwar Sahu, principal secretary, Gujarat's industries department, and Zhang Xin, chairman, TBEA Energy. The governor of China's Xinjiang province, Nuer Baikeli, and Union minister for commerce and industries Anand Sharma were present at the signing of the agreement with the Chinese power company.
TBEA will invest in two phases Rs 2,500 crore for the Green Energy Park. The first phase of the project, involving an investment of Rs 400 crore, will lead to setting up of a plant to manufacturer ultra high voltage transformers. Work on the first phase is expected to start soon, while production will commence next year. This investment is expected to create around 2000 jobs in the state.
The second phase will see investment of the remaining amount. The transformers will be for 'Indian markets', and also for African countries and the Middle East.
Chief minister Narendra Modi will visit China later this month to further strengthen cooperation. The state government will facilitate the process of obtaining necessary permissions and approvals. To ensure completion and smooth operation of the TBEA Green Energy Park, the state government will also facilitate availability of the necessary infrastructure.
TBEA, the third largest transformer manufacturer in the world, has been a major supplier of transformers and reactors to India in recent years. The company will bring clean and the latest technology to India but currently it is looking to consolidate its position by setting up a manufacturing base in the country.
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