Indian, Chinese firms ink 15 MoUs worth $ 590 million

As many as 15 MoUs with investment potential of USD 590 million have been signed between Chinese and Indian firms across various sectors, including development of industrial parks in Gujarat. "The inked deals, which are worth USD 590 million, cover crucial sectors like infrastructure, energy, agriculture, information technology, electronics and pharmaceuticals," Guangdong's Deputy Director General of Department of Commerce Chen Yuehua said at a press conference here. He said that these MoUs were signed at the China-India (Gujarat) Economic and Trade Cooperation Conference organised by the Government of Guangdong province of China.

He, however, did not gave an individual break-up of deals signed by different companies. He said a Chinese delegation led by Guangdong Governor Zhu Xiaodan, along with representatives of the province-based top companies, are in Gujarat to explore and enhance business. Some key agreements signed between business leaders include an MoU to develop the Ahmedabad Industrial Park signed by the Gunagdong-based Wangtat Construction and Investment Holding Group of China and the Apollo Group of Companies, he said.

Wangtat Group has also joined hands with the Gujarat-based Payal Properties to develop an industrial park in Bharuch, he said. An investment cooperation agreement has been signed between the Silkroad Development Holdings Ltd of China and the India-based Vasundhara Infra-Developers to develop the ambitious Silk Road project, he said. A three-party cooperation agreement to boost cross-border e-commerce has been signed between SFC Service Ltd, Global Private and Gati, he said.