Haryana govt signs five MoUs worth Rs18,000 crore in Singapore for development projects

Singapore: The Haryana government signed five agreements with Singapore-based companies to attract Rs 18,000 crore investment in development projects in infrastructure and industrial sectors.

Haryana Chief Minister Manohar Lal Khattar said the companies will study various aspects of undertaking projects in the state.

"We will see investments in infrastructure, industrial sector and other related sectors," Khattar told PTI.

"These five MoUs are worth Rs 18,000 crore of investment in the state," he said, after attending the signing ceremony and addressing nearly 100 Singaporean businessmen at the venue.

The five MoUs were signed with Meinhardt Group, YCH Logistics for Logistics projects, Ascendas Singbridge for Townships/Logistics parks development, Adonis for Wellness projects and equity investor Equis Energy which makes investments in a wide range of projects, including transmission and power distribution among others.

File image of Haryana CM Manohar Lal Khattar. IBNlive

File image of Haryana CM Manohar Lal Khattar. IBNlive

The MoUs were signed by Haryana State Industrial and Infrastructure Development Corp Ltd's Managing Director Raja Sekhar Vundru with representatives of the five companies.

"We aim to promote Haryana as a vibrant and competitive destination internationally. We want to offer the state as a corporate capital, as an industrial destination, as a residential and entertainment centre, whereas at the same time, retaining its edge in manufacturing, services and knowledge sectors," the chief minister added.

"It is indeed going to be 'Destination Haryana' all the way during the coming years. A clear vision, political will, good governance, empathy, empowerment, partnerships and creativity will be the keywords to drive the future success of Haryana," Lal said.

Meinhardt Group, an infrastructure and civil engineering group headquartered in Singapore, has signed three agreements with Haryana.

"The MoUs are for developing Aviation Hub, Smart Cities and Industrial Townships," said Shahzad Nasim, Group Executive Chairman of the Meinhardt Group.

The Meinhardt Group will do feasibility studies on the proposed development over the next three to four month, following which it would carry out logistics and financial evaluation of the projects.

"We will then discuss various options, including land availability for progressing with the projects," added Nasim.

Manohar Khiatani, Deputy Group CEO of Ascendas-Singbridge said, "We chose Haryana because of its strategic location and its position as a fast-growing economic powerhouse in India".

"We are optimistic about the growth potential of Haryana, and are happy to sign this MOU with the Haryana government to facilitate more investment opportunities and business collaboration," Khiatani said.

International Enterprise Singapore, a trade and business export promoting agency, has identified Faridabad, Gurugram and Karnal key cities to be developed as model smart cities for the state.

"This MoU will see Meinhardt partner Haryana on smart city solutions, industrial townships and an integrated aviation hub," said IE Singapore.

YCH is already present in over 50 locations across India. Margaret Toh, Executive Director, YCH Group, said, "Haryana is a focus state for us, especially with the upcoming GST implementation in India".

"We will continue to work closely with International Enterprise Singapore and the Haryana government to expand our presence in the state and develop warehousing assets and supply chain solutions. This MoU will facilitate our interests in securing strategic warehousing projects in Gurugram," he said.


Updated Date: May 23, 2017 16:31 PM

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