RIICO signs MOA with IL&FS
7 Nov 2007

For Executing Project for Water Supply to Textile Park at Soniyana in Chittorgarh district

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New Delhi, (BW) -- Rajasthan State Industrial Development & Investment Corporation Ltd.  today signed a Memorandum of Agreement with Infrastructure Leasing & Financial Services  to form a Special Purpose Vehicle company  to establish an integrated water supply project for supply of water to Textile Park in Soniyana village, in district Chittorgarh and existing industries in Bhilwara. The proposed integrated water supply project will be implemented on a Public Private Partnership  model.
The agreement was signed by Mr. Kuldeep Ranka, MD, RIICO and Mr. L. Krishnan, CEO, IL&FS and IL&FS Urban Infrastructure Managers Limited. The SPV will cater to the industrial requirements of the textile park being developed by RIICO at Soniyana village near Bhilwara-Chittorgarh border and also to existing industries in Bhilwara in Rajasthan. The project is being undertaken with two broad objectives: i.e. transmission of water to industrial customers and to establish a 'Common Effluent Treatment Plant'.
Speaking on the occasion, Mr. Narpat Singh Rajvi, Industries Minister, Rajasthan said, "The proposed water supply project further strengthens Rajasthan's image as a state with unique practices of water conservation and utilization. Bhilwara has emerged as one of the largest centres for manufacturing synthetic suitings and has around 13,000 looms. The poor availability of water in the Bhilwara-Chittorgarh area was a major hindrance to the growth of the textile sector in the region. This project will help the textile sector to grow in an eco-friendly way. Rajasthan is already doing many infrastructure projects in PPP mode and the existing project further strengthens our portfolio".
Mr. Sunil Arora, Chairman, RIICO said "this project would further boost growth of textile sector in this part of Rajasthan and help in bringing new investment in the State".
Mr. Ashok Sampatram, Principal Secretary Industries; Mr. S.N. Thanvi, Principal Secretary Water Resource and IGNP; Mr. Ashok Singhvi, Secretary Mines and Mr. Paritosh Gupta, CEO, PDCOR Limited were also present.
Mr. Sameer Vyas, MD, IL&FS Water Company Limited said, "We are delighted to partner with RIICO in developing, financing and implementing the project. The project will have a positive impact on the growth of various industries here. We have considerable experience in infrastructure-based PPP projects. IL&FS is well aware of the robust industrial development being undertaken by the Government of Rajasthan and its industrial wing RIICO. We look forward to a long and steady association with RIICO."

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