Port operator Adani Group and Chinese firm East Hope Group have agreed to pour investment money into manufacturing units at the deep-water port in India.
Port operator Adani Group and Chinese firm East Hope Group have signed an investment framework agreement for manufacturing units in Mundra’s special economic zone (SEZ).
The agreement promises $300 million in investments for the Indian port for solar power generation equipment and chemicals, aluminum and animal feed manufacturing units.
According to the Chinese firm, the Consulate of India is “willing to cooperate as a ‘matchmaker’ for the two groups to continue to provide all the assistance for the final landing of the project.”
Consul General of India Gu Guangming, said, “India will help to quickly upgrade the basic raw material manufacturing capacity, in line with Prime Minister Moody’s ‘Indian manufacturing’ strategic planning.”
The Mundra SEZ is located in western Gujarat and operated by the Adani Group. Known as a major deep-water port in India, the port also boasts a large coal-fired power plant for electricity production.
According to ocean carrier schedule and capacity database BlueWater Reporting‘s Port Dashboard tool, 29 container services call the Port of Mundra that connect it to regions outside of the Indian Subcontinent.
Port of Mundra to receive $300m in investments
