New Delhi, 3 November, 2011

In the wake of upcoming visit of Gujarat’s Chief Minister Shri Narendra Modi to China, today a Memorandum of Understanding (MoU) has been signed between the Government of Gujarat and TBEA Energy (India) Private Ltd, a Chinese firm to develop Green Energy Park in Karjan near Vadodara. On behalf of the State Government, the MoU was signed by Mr. Maheshwar Sahu, Principal Secretary (Industries & Mines). Mr. Zhang Xin, Chairman, TBEA Energy (India) Pvt. Ltd. signed the MoU on behalf of the Chinese firm in the presence of Union Minister for Commerce & Industries Shri Anand Sharma and Governor of Xin Jiang province Mr. Nuer Baikeli.

On this occasion, the Ambassador of China to India HE Mr. Zhang Yan and Mr. Bharat Lal, Principal Resident Commissioner, Government of Gujarat along with Mr. Peng Gang, Counselor (Economic & Commercial), were also present. From Government of India, Shri Gautam Bamabawale, Joint Secretary (East Asia), Ministry of External Affairs and Mr. Talleen Kumar, Joint Secretary, Ministry of Commerce & Industry and other officials participated in the event.

TBEA Energy (India) Private Limited will invest Rs. 2,500 crore on the“TBEA Green Energy Park”Project. In the first phase, they will be investing Rs. 400 crore and work is likely to start immediately. First Phase of the project consists of building “TBEA Ultra High Voltage Transformer Plant” and production is expected to start next year. TBEA is the 3rdlargest company of the world in the sector. The company will bring clean and latest technology in India.

On this occasion, HE the Governor of Xin Jiang province Mr. Nuer Baikeli expressed his happiness over the increasing economic cooperation with India and Gujarat. Union Minister Shri Annad Sharma congratulated the Chairman of TBEA and hoped that they will bring more investment in India as country provides a great opportunity for doing business and making investment. He hoped that economic and business cooperation between both the countries will further increase.

To enable the investment by the TBEA Energy (India), the Government of Gujarat (GOG) will facilitate the company in obtaining necessary permissions and registrations from the State and Central Governments. The Government of Gujarat will also assist TBEA Energy (India) Private Limited in availing incentives, wherever applicable, under various schemes announced by the Government of Gujarat and the Government of India.

To ensure the completion and smooth operation of the “TBEA Green Energy Park” project, the Government of Gujarat will facilitate provisioning of necessary infrastructure.

Gujarat Chief Minister Shri Narendra Modi is known for promoting new technologies in the sector to produce clean energy and State has become the focus of activities in clean energy technology and renewable energy production. In fact, recently on 3rdOctober, 2011, a one-day meet was held in Gujarat on renewable energy wherein Danish embassy officials and a large number of Danish and other European companies participated. During the seminar, few major investments in renewable energy sector have also been finalized. On 26th November, 2011, Gujarat Government in collaboration with Denmark is organizing a meet on energy efficiency wherein a very large number European companies especially Danish companies are going to participate.

In last few years, Gujarat has become the natural destination for major companies in all sectors. The manufacturing sector in Gujarat is on high and daily more and more companies are coming to Gujarat, where environment is highly conducive with all round peace supported by excellent infrastructure and basic services. The state is setting s very high standard for others to follow and give further push to economic development in the country.