TWBB inks MoU with Atlanta
China’s energy major Baoding Tianwei Baobin Electric (TWBB) inked an MoU with Gujarat based Atlanta Electricals (AEL) to set up an ultra mega high voltage power transformers and reactor plant near Vadodara at an investment of Rs400 crore.
The construction of plant by the joint venture company, which would manufacture high end power equipment ranging from 750-1,000 KV, would begin in February next year and production would commence from April 2013.
The MoU was signed between TWBB CEO, Li Yuha and the Atlanta group chairman, Krupesh Patel, in the presence of Gujarat Chief Minister Narendra Modi.
Speaking on the occasion Modi said that the new plant will be instrumental in providing resources for transmission. "TWBB has selected Gujarat for partnership keeping in mind the growth oriented policies, quick decision making and transparency," Yuha said.