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The Singapore-based Universal Success Enterprise Ltd (USEL) plans to invest nearly Rs 1.20 lakh crore, in partnership with Indonesia's Salim Group, on its various infrastructure development plans in Gujarat and West Bengal over the next 10 years, Mr Prasoon Mukherjee, Chairman, said today.
While USEL will invest Rs 50,000 crore in Gujarat, it has earmarked Rs 70,000 crore for West Bengal, he told Business Line from Kolkata today. USEL will invest Rs 1,000 crore in each State from its internal accruals and raise the remaining funds through various financial sources.
Along with its ongoing infrastructure sector plans in ports, power and township projects in Gujarat, the company is likely to enter ship-building business as well, with an initial investment of Rs 2,000 crore. It will file an MoU with the State Government in the next few days in this connection.
USEL, which had signed an MoU with the State Government at the fourth Vibrant Gujarat Global Investors' Summit (VGGIS) in 2009, is progressing with its 10-year plans for a Rs 30,000 crore industrial integrated township in the Dholera Special Investment Region (SIR), Rs 20,000 crore thermal power plants in Jamnagar and Bhavnagar as also the Rs 3,000 crore port plans, he said.
Township
Mr Mukherjee said the Dholera township, to be developed in over 5,000 acres, would be a high-tech zone, focusing on Japan, an international city within a city.
At the VGGIS 2011 on Wednesday, USEL signed an MoU with Gujarat Industrial Development Corporation (GIDC), the State's nodal agency, and the Japan Development Institute (JDI), Tokyo, for the purpose. “The required land has been demarcated and we hope to get it soon,” Mr Mukherjee said.
The township, Universal Success City (UCC), will include development of a special zone dedicated to Japanese industry and social infrastructure for Japanese community. JDI will help identify potential Japanese companies to set up operations in the UCC.
Power projects
USEL had signed MoUs with the State Government to set up 10,000 MW of both thermal and non-thermal based power units. A 3,960 MW thermal power plant is being set up at Bhatvadiya in Jamnagar district using the environment-friendly super-critical technology. The project will be executed in three phases of 1,320 MW each.
Coal for the power plant will be sourced from Indonesia. The terms of reference (ToR) for the entire 3,960 MW have already been approved by the Union Ministry of Environment and Forests and all other regulatory clearances are at an advanced stage, he said.
USEL has already executed MoUs with the State Government for sale of up to 50 per cent of the generated power. The first phase of power generation will commence by 2015. USEL is also exploring opportunities to set up a 450 MW thermal power plant (in three phases) near Bhavnagar, Mr Mukherjee added.
multi-cargo port
Besides, the company will develop a new, all-weather, multi-cargo port at Gojiness, 5 km from Bhatvadiya. With the ultimate planned capacity of handling 60 million tonnes of cargo per annum, the port will be initially used to handle coal imports for the power plant and subsequently expanded to handle multiple cargo, including containers and other bulk cargo.
Also, USEL is currently carrying out feasibility studies for the re-development of the existing Bhavnagar port terminal as a commercial port in order to establish the commercial viability of larger commercial operations. The redeveloped port could serve to add value to the Dholera SIR and other areas of the hinterland witnessing rapid industrial growth.
Bengal plans
About the plans in Bengal, he said his company had signed an MoU with the State government for a 10,000 MW power plant. At present, it is working on a 2,000 MW project, the development of a 13,000-acre petrochemical hub, a 377-acre integrated township and a 100-acre industrial park.
USEL, promoted in 1998 by Mr Mukherjee, a former official of India Tourism Development Corporation (ITDC) and a first generation entrepreneur, is a diversified business group with interests in energy, energy trading, infrastructure, power, port and related businesses.
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