Rupani likely to perform groundbreaking for Chinese JV firm’s steel plant in Kutch on Tuesday

Bhuj: Gujarat Chief Minister is likely to perform groundbreaking for Chinese company’s steel plant in Kutch on January 23.

China based Sunrise Group is going to set up a steel plant near Kundrodi village of Mundra taluka in Kutch with initial investment of Rs 6,000 crore.

Gujarat government has allotted 213 hectare land to Sunrise Group between Ratadiya and Kundrodi villages.

Sunrise Group had signed memorandum of understanding(MoU) with Government of Gujarat in Vibrant Gujarat Global Summit – 2017.

The Chinese steel major has partnered with an Ahmedabad-based entity to form a joint venture company -Chromeni Steels Private Limited -for the project. Chromeni Steels was registered as a private limited company in Ahmedabad in June 2017. It is a subsidiary of Sunrise Group with authorized capital of Rs195 crore and paid up capital of Rs39.6 crore. The nine directors of Chromeni Steels Private Limited are Mahaveer Agarwal, Pratik Mahendra Shah, Harsh Pravin Kotak, Amit Muljibhai Vaghasia, Jinsong Chen, Jinqiang Xiang, Jian Jiang and Binghe Xiang.