Noida, Uttar Pradesh-based infrastructure and energy-based conglomerate -- The Jaypee Group - has signed a Memorandum of Understanding (MoU) with Kazakhstan's national agency for export and investment KAZNEX INVEST this week for collaboration in several areas of mutual interest.
An Embassy of Kazakhstan release said the MoU was signed during the visit of a delegation of the Jaypee Group led by Managing Director Sunny Gaur and other key officials such as D.P. Goyal, the group director in charge of the company's power division.
With the support and direct participation of Kazakhstan's Ambassador to India Bulat Sarsenbayev, the management of the Jaypee Group met with representatives of several Kazakhstan state bodies, national and private companies in Almaty and Astana.
The delegation also called on the country's Energy Minister Kanat Bozumbayev, Vice Minister for Investment and Development Yerlan Khairov, Deputy Minister of Internal Affairs Yuriy Ilyin, the Chairman of the Board of Kaznex Invest, Borisbiy Zhangurazov, the Mayor of Almaty, Baurzhan Baibek, the Rector of the National Academy of Engineering, Bakhytzhan Zhumagulov, the Deputy Mayor of Astana, Malika Bekturova, the Vice-President of JSC-NC Kazakhstan Temir Zholy, Sanjar Elubaev, besides senior management of Kazakhstan companies and banks. These meetings took place between February 22 and February 25.
During their meetings, the Jaypee Group delegation expressed considerable interest in opening and maintaining a diversified business collaboration in Kazakhstan, given the significantly high-level of bilateral cooperation with the Indian government in various fields, such as construction of roads between regional centers, making of dams for irrigation purpose, mining of coal and iron ore, setting up coal based thermal plant at pithead, privatization or the taking under control of one of the medical institutions to provide public health services with the involvement of qualified Indian doctors, design and construction of hydroelectric power plants of low and medium power capacity, the possibility of participating in the construction of IT-center in Kazakhstan and further to maintain its functionality.
Jaypee Group Co-Chairman and Chief Executive Sunny Gaur said, "Today, Kazakhstan is one of the priority markets for business because its potential is obvious."
He said that his company is very interested in working on several projects in Astana and Almaty, besides other regions of Kazakhstan.
Representatives of Kazakhstan governmental bodies assured Jaypee Group of complete support for projects in various fields in Kazakhstan.
In general, Indian businessmen have spoken positively about the investment climate in Kazakhstan and expect further successful cooperation in almost all areas of business.
Founded by Jaiprakash Gaur, the Jaypee Group is a well diversified infrastructure conglomerate with business interests in engineering and construction, power, cement, real estate, hospitality, expressways, it, sports and education (not-for-profit). It is widely represented in the field of engineering maintenance and construction, cement, power, coal and iron ore, hospitality, health care, information technology and education.
The total annual income of this conglomerate is estimated to be more than USD 2 billion. The group reportedly has a staff strength of about 25 000.
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