BWI: Universal Success Enterprise to Become One of the Largest Investors in Gujarat

Press release from Business Wire India
Source: Universal Success Enterprises Limited
Monday, January 12, 2009 04:55 PM IST (11:25 AM GMT)
Editors: General: Consumer interest; Business: Banking & financial services, Business services, Construction, Financial Analyst, Major diversified industrial groups, Real estate, Stock exchanges
Release no: 18918
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Universal Success Enterprise to Become One of the Largest Investors in Gujarat
To Invest Rs. 87,000 Crores in Power and Port and Industrial Infrastructure Devleopment Projects over a 10 Year Period; To Generate Employment for more than 50,000 People

Ahmedabad, Gujarat, India, Monday, January 12, 2009 -- (Business Wire India) -- Singapore based multi billion Dollar Universal Success Enterprises Ltd. (USEL) today signed three MoUs with Government of Gujarat at the "Vibrant Gujarat Global Investors' Summit 2009", committing to invest close to Rs. 87,000 crores in the various infrastructure projects in the state over the next 10 years.

This is one of the largest investments committed by any single corporate house in the country at this year's Vibrant Gujarat summit, which is organized regularly by the Government of Gujarat to attract investments in the state. The investment would be made primarily in the area of thermal power generation, sea ports and Industrial & Urban infrastructure development and is expected to generate employment for more than 50,000 people across the state.

Announcing this investment, Mr. Prasoon Mukherjee, Chairman, Universal Success Enterprise Limited (USEL) said, "We are excited by the excellent response we have received from the Government of Gujarat. The encouraging investment climate in the State would provide us with the impetus on the fast growth track particularly in the area of infrastructure which has immense potential."

As a part of the MoUs, USEL would be setting up a 10,000 MW Thermal Power Plant with an investment of about Rs.50, 000 crores. The power plant would be put up at one or more locations in the state for which suitable location and land is being identified and this is expected to generate employment for more than 5000 people. The project would use imported coal from group owned captive mines as fuel and will have a dedicated port terminals for import of the coal.

The port project involves the development of Port Terminals and related infrastructure initially for bulk cargo for the power plants and gradually to be upgraded as a Commercial Port for all kinds of cargo. The development of the port terminals and related infrastructure is expected to cost about Rs.7000 crores for which port land and shorelines are currently being identified.

Besides the above, the other major investment includes the mixed use Industrial and Urban Infrastructure development, at Dholera SIR near Ahmedabad. This project will be constructed on an initial area of 5000 acres with an investment of about Rs.30,000 crores (including client investment). This project alone will generate a huge employment opportunity which would be close to 50,000 in the state of Gujarat.

Mr. Prasoon Mukherjee, Chairman, Universal Success Enterprise Limited (USEL) further added that, "USEL's expertise lies in developing end to end large scale infrastructure projects and we would partner with world's best infrastructure consultants to maintain high standards and meet the set time lines for execution."

The company entered India in 2003 and started its Indian operations with large investments in the state of West Bengal where it is developing New Kolkata International Development (NKID) which involves construction of a 130 Km express highway and a 3.5 km bridge across the river Hoogly to connect Kolkata and Haldia. The project involves the development of PCPIR in Nayachar island besides integrated Industrial, commercial and residential township projects, besides a health city and knowledge city.

The other advanced project of the company in West Bengal jointly with partners includes "Kolkata West International City" (KWIC), a 390 acre integrated township development in Howrah with an estimated project cost of about Rs. 6000 crores. Construction is at an advanced stage and possession hand over of the first 500 units is expected to start from March 2009.

The company is also developing Mahabharat Motors Manufacturing, a two wheeler manufacturing unit spread over an area of 65 acres in Uluberia, 50 kms from Kolkata with technical support from TVS Motor Company. The factory is at an advanced stage with trial and commercial production expected to commence before June 2009.

Some of the other projects of the Group jointly with partners are listed below;

-- Uniworld City, an international condominium complex spread across 100 acres of land at New Town, Kolkata is now all set to get a taste of International living, in a state-of-the art township. Started in 2005, initial 1.4 million sq ft is 90 % complete

-- Infospace at New Town, Kolkata, an IT park with about 4 million sq ft of built space. About 1.6 million sq ft has already been taken possession by the clients

-- Proposed Kolkata International Convention Centre (Marriott) - proposed in New Town, just 8 kms away from International Airport, Kolkata

-- Kolkata International Logistic City, a world class, first of its kind project in India will provide end to end solution to logistics activity in eastern India. It is a proposed integrated development of Logistic Hub, Commercial and Wholesale Retail, Ancillary support area

-- Ritz Carlton Hotel, is an initiative to bring in leading International Luxury Hotel and resort brand Ritz Carlton to Kolkata, the city of joy

-- Commercial Project at Kasba, a world class commercial complex very near to E.M Bypass on Rash Behari Connector and having 1.5 lac sq.ft of built up space

-- Bengal Unitech Universal Siliguri Ltd, proposed as an integrated township to cater to a population of 30,000 with a possibility of 10 million sq.ft of built up space

About USEL:

Universal Success Enterprises Limited incorporated in year 2000, promoted by Mr. Prasoon Mukherjee is a Singapore based diversified group in the field of infrastructure development, real estate, energy trading, hospitality and manufacturing. The group has identified thermal power generation, sea-ports, and mixed use industrial & urban development (SEZs) as focus areas in the selected states of West Bengal, Gujarat and Maharashtra. The group has a strong presence in Asia Pacific with businesses operating across different countries such as India, Indonesia, Singapore, Malaysia, Philippines and Thailand.


CONTACT DETAILS
Shekhar Singh, Mutual Public Relation, Ahmedabad, +91 9825060991, shekhar@mutualpr.com
Sachin Jain, Mutual Public Relation, Ahmedabad, +91 9898273027, sjain@mutualpr.com

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