China's Pacific Construction Group inks $5.5-bn MoU with Gujarat govt.

Chinese infrastructure and construction major, Pacific Construction Group (CPCG), has signed a memorandum of understanding (MoU) with the Gujarat Government's iNDEXTb to invest $ 5.5 billion (approx Rs. 37,000 crore) for developing infrastructure facilities in the State.

The MoU was signed by Pacific Construction Group Chairman Yan Hao and iNDEXTb Managing Director Rajkumar Beniwal in the presence of Gujarat Chief Minister, Vijay Rupani, in Gandhinagar.

The Chinese company is keen to invest in the areas of infrastructure sector, knowledge sharing, education innovations, GIFT City and iCreate through the MoU. Pacific Construction Group is positioned among the world's top 100 construction companies.

A government statement said that Pacific Construction Group will be provided all support in connection with the necessary permissions, infrastructure facilities and incentives to implement its projects under the MoU.

HBL