Work for $1 million China Industrial Park in Ahmedabad to begin soon

NEW DELHI(PTI): The work on the $1 million China Industrial Park to be set up near Sanand in Ahmedabad district is likely to start in the next three months, a senior official of China Development Bank said on Monday.

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The Vice-Managing Director of China Development Bank Xiao Ming Zhen met Gujarat Chief Minister Anandiben Patel and briefed her about the developments related to the project.

Memorandum of Understanding (MoU) for setting up of Chinese Industrial Park in Gujarat was signed between China Development Bank and Gujarat government in the Vibrant Gujarat Summit 2015.

The bank will invest $1 million and develop the park, in which Chinese companies will establish their units, an official release said.

The Gujarat government has formed a high-powered committee headed by the Additional Chief Secretary of Industries for setting up the project.

The bank has also taken up steps to lay the foundation stone of the project in the next three months, it added.