Modi's Dalian visit results in MoUs worth Rs 5,100 cr

Gujarat chief minister's visit to the three day global summit 'Summer Davos' at Dalian in China has resulted in Memoranda of Understanding (MoUs) worth Rs 5,100 crore and has paved way for future investment and collaboration with global corporates.

CM Narendra Modi led a delegation comprising 21 Gujarat-based industrialists and government officials to Dalian. The summit began on September 6.

During the summit three MoUs were signed which includes IL& FS, Ajanta (Orpat) and Electrotherm. IL& FS signed MoUs worth Rs 5,000 crore with two China-based infrastructure companies for the recently launched Gujarat International Finance Tech City (GIFT).

The companies have booked 6 million sq ft space at GIFT. A Chinese firm, ECADI, which is designing GIFT, has assured the delegation that GIFT's designing will be of international standards.

Ajanta (Orpat) signed an MoU with a Chinese firm Unitedmetaltek to set up a joint project in Morbi with an investment of Rs 100 crore.

The joint venture company will be called Ajanta Unimetaltek Ltd(AUL). The project will start within the next three months. Electrotherm India Ltd also signed an MoU with Ningbo Bipolar Batteries Co Ltd, China, for technology transfer to manufacture high energy electric two-wheeler batteries.

The summit was attended by more than 1,700 representatives from 90 countries. D Rajgopalan, principal secretary for industries and mines, Government of Gujarat, while addressing the media on Sunday said, "The visit was highly sucessful and the CM's aim to project Gujarat as a hot destination for investment in India was achieved. The dinner held by CM at the summit was warmly welcomed by various business and bureucratic representatives of different countries. Klaus Schwab, founder and executive chairman of the World Economic Forum also attended the dinner and had a half an hour discussion with the CM."

"The chief minister has been personally invited to attend the WEF-2008 to be held in January at Davos. The delegation also met WEF officials," Rajgopalan said.

Modi also met Goh Chok Tong, one of the China's senior ministers, and held discussions with him. Tong has promised to help Gujarat in developing itself as a contemporary model as well as to mobilise international support for the state.