Narendra Modi’s visit to China bears fruit in the form a joint venture
Chinese Co TWBB to set up Rs.400-cr ultra high voltage transformer and reactors plant near Vadodara jointly with Atlanta ElectricalGandhinagar, Thursday: As a follow-up action of Chief Minister Narendra Modi’s visit to China, the latter’s energy sector firm TWBB here today signed a memorandum of understanding with Gujarat’s Atlanta Transformers and Electric al to set up an ultra mega high volt age power transformers and reactors plant on P adra-Jambusar Highway near V adodara at a cost of Rs.400-crore as a joint venture.
It was signed by TWBB CEO Mr. Li Yuha signed for the Chinese company. The plant will start construction in February 2012 and start production from April 2013, to produce equipment ranging from 750-1200 KV.
Chairman of Atlanta group thanked the Gujarat government, Chief Minister and INDEXT-B for their support.
Mr. Li Yuhai said that TWBB has selected Gujarat for partnership keeping in mind the growth-oriented policies, quick decision making, transparency and absence of labour rage in Gujarat. He also invited Mr. Modi to visit TWBB plant in China.
Chief Minister outlined how the ties between Gujarat and China are growing up in various sectors. He s aid that Gujarat government is focusing on the renewable energy sources like solar, wind and tidal and h as now become a power-surplus state. Looking at the demand for the infrastructure of power transmission, the new ultra mega high-volt age trans former plant will be instrumental in providing resources for power transmission.
Office bearers of Atlanta group, Industries secretary M. Sahu, Industry Commissioner B B Swain and MD of Indext-b Mukesh Kumar was also present on the occasion.