December 29, 2016 9:02:39 pm
In the run up to the Vibrant Gujarat Global Summit- 2017, the state government on Thursday signed a Memorandum of Understanding (MoU) worth $5.5 billion with China’s Pacific Construction Group.
The MoU was signed between Deng Shuguang, vice-chairman of the Group and iNDEXTb, an arm of the Gujarat government, stated an official release here. Additional Chief Secretary of Industries and Mines Department, PK Taneja said, “I welcome Pacific Construction Group to Gujarat, ensuring all the support from the Government. We look forward to timely completion of their projects and I am confident that these projects will help us make Gujarat a future-ready state.” However, the statement from the Gujarat government or it’s private public relations agency do not specify any project for which the MoU has been signed.
“The Pacific Construction Group, founded in 1995 is China’s largest private builder and the company is ranked 99 in the Fortune Global 500 companies,” the release added.
In October 2017, when a Gujarat government delegation went on a tour to China to promote Vibrant Gujarat summit, they had signed $5 billion worth of MoUs with Chinese companies including Pacific Construction Group. The other agreements were with Liaoning Province of The People’s Republic of China, Dynagreen Environmental Protection Group Co. Ltd, JCHK Holding Co. Ltd., Chengdu Xingrong Group, ZTEsoft Technology Co. Ltd and Sinoma Taishan Fibreglass Inc.
However, little is known about the fate of these MoUs that the state government has been signing with Chinese companies for the last couple of years. For instance, in 2015 two big MoUs were signed between Gujarat and Chinese firms. In September 2015, Guangdong province of China signed MoUs worth $590 million when a Chinese delegation visited Ahmedabad. Earlier, in May 2015, a Gujarat government delegation visited the Chinese provinces of Guandong, Shenzen and Hongkong and had signed 22 MoUs worth Rs 30,000 crore including for two new industrial parks and a new smart city.
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