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China Development Bank Funds USD1B India Industrial Park in Gujarat (Linked to Record ID#42662)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | India |
| Country | India |
| Start Date | Jun 30, 2014 |
| End Date | Jan 22, 2029 |
| Duration | 5,320 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 42660 |
Grant Description
China Development Bank Funds USD1B India Industrial Park in Gujarat On June 30th, 2014, the China Development Bank agreed to fund a USD 1.1 billion industrial park in Gujarat focusing on electrical equipment. It is expected to create 10,000 jobs directly with an annual output of $5.2 billion. According to the Hindustan Times, the total investment in the project overall will reach $1.8 billion by 2025.
On September 17, 2014, a memorandum of understanding (MOU) was signed with the Gujarat Industrial Development Bureau and the China Development Bank to invest in the establishment of a power industrial park in Gujarat.
According to the agreement, the Gujarat government will provide land, taxation and administrative approvals, and the China Development Bank will provide preferential loans to the industrial park. China also agreed to invest in another industrial park in Maharashtra state at the same time (#42662).
Sources & References
- Way for China-India relations is still long, but promising
- In China
- Modi to push for expediting industrial parks
- China to set up two industrial parks in India
- India
- China sign pact to set up Chinese industrial parks in India
- China to invest over $5 billion in 2 business parks in Maharashtra
- Gujarat, http://www.hindustantimes.com/india/china-to-set-up-industrial-parks-in-maharashtra-and-gujarat/story-Waz9qhNWFk1EynBxRalBiM.html
- Ties beyond border issue, 'PM Modi's China visit set to throw up $20-bn investments'
- 对外投资合作国别（地区）指南——印度2018版
- 特变电工进化论：中国光伏企业如何融入印度
- China to set up two industrial parks in India Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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India
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