India & China sign 11 MOUs to the tune of Rs 27,865 crore

Updated on: Tuesday, November 27, 2012

Giving a fillip to the economic ties between the two countries, India and China inked 11 agreements entailing investment of over USD 5 billion (about Rs 27,865 crore).

The memorandums of understanding were signed during a day-long 2nd India-China Strategic Economic Dialogue here.

The first agreement was signed between the Planning Commission and Chinese planning body National Development and Reforms Commission (NDRC) for undertaking joint studies in economic policy research and development planning.

The MoUs were also singed to encourage cooperation between India's Bureau of Energy Efficiency and NDRC. Another MoU was between Indian Railways and China's Ministry of Railways for enhancing technical cooperation in the railway sector.

Another agreement was inked by India's IT industry body NASSCOM and China Software Industry Association (CSIA) for enhancing cooperation in IT and ITES sector.

In private sector, MoUs were signed between Reliance Power and Guangdone Mingyang Wind Power Industry Group Co, Ltd for a 2,500 MW renewable energy project envisaging an investment of USD 3 billion with project financing from China Development Bank.

Lanco Group has entered into an agreement with China Development bank for financing USD 600 billion Anpara Phase-II Power projects (4X660MW).

NIIT and Province of Hainan joined hand to set up an IT technology park in Hainan with an investment of USD 800 million.

Ramkay Envrio Engineers Ltd and Sanfeng Environmental Industries Group Company Ltd would set up 'Waste to Energy' projects on 'build operate and transfer' (BOT) basis in New Delhi, Mumbai and Hyderabad and Chennai at an investment USD 384 million.

Uttam Galva Steel Ltd has given an engineering, procurement and construction contract for Phase II of 500,000 tonnes per annum steel plant to China Metallurgical Group Corporation Overseas Ltd.

Lanco Enterprises inked a deal worth USD 98 million with Zhejiang Feida Environmental S&T Company for Amarkantak Power project.

In another such agreement, Zhongtian S&T Ltd Co. will manufacture electric conductors and transmission lines at Sri City in Andhra Pradesh for USD 20 million.

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