Essel Infraprojects, Golden Concord Holdings ink pact with AP

Visakhapatnam: Subhash Chandra-led Essel Infraprojects and China-based Golden Concord Holdings (GCL) Consortium on Tuesday inked an MoU with Andhra Pradesh government for setting up an integrated solar equipment manufacturing facility in the state with an investment of USD 2 billion.

The Consortium also signed another Memorandum of Understanding (MoU) with the government for setting up a Smart Industrial Park in the State, a statement from Essel Group said.

Both the MoUs were signed today on the last day of the CII Partnership Summit here. "The Integrated Solar Energy Equipment Manufacturing facility...would generate about 15,000 skilled jobs. Through this manufacturing base, GCL and Essel intend to cater to both domestic and overseas markets," it said.

Besides this, both companies will explore possibility of setting up Smart Industrial Park, which will attract investment of USD 9 billion in Andhra Pradesh through setting up multiple manufacturing facilities by Indian as well as Chinese companies. "Renewable energy is the key for the economic growth of our country.

It will aid clean energy initiative of the government. Taking the lead, Essel Group intends to facilitate India's green energy requirement by delivering sustainable energy and creating value to empower people, communities and businesses," Chandra said. Shu Hua, Vice Chairman of the GCL Group said:"We are very excited to be a part of the 'Make in India' campaign of Prime Minister Narendra Modi. "GCL looks forward to contributing towards the progress of this wonderful country by not only bringing in investments but also the latest available technologies of PV industry."