According to reports, Chinese power equipment maker TBEA will invest Rs500 crore as the first phase of foreign direct investment in a Rs2,500-crore Green Energy Park in Gujarat.
“TBEA Energy (India) is proposing an FDI investment of Rs500 crore during the first phase of a three-phase ‘TBEA Green Energy Park’ project, involving total investment of Rs2,500 crore,” according to a press release.
TBEA Energy (India) and the Gujarat government today signed a memorandum of understanding (MoU) for establishing the park.
The agreement was signed in the presence of commerce and industry minister Anand Sharma and governor of China’s Xinjiang province Nur Baki.
Under the first phase of the project, TBEA will build an ‘Ultra High Voltage Transformer Plant’.
The Gujarat government will help TBEA in obtaining necessary clearances and registrations as well as in availing incentives.