Press release from Business Wire India
Source: Belgium Embassy
Tuesday, March 23, 2010 05:08 PM IST (11:38 AM GMT)
Editors: General: Economy, Politics, Social issues; Business: Chemicals, Construction, Energy companies, Transport engineering
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Ten Agreements Signed in New Delhi between Belgian and Indian Companies during the Visit of the Largest ever Belgian Economic Mission to India Presided over by His Royal Highness Prince Philippe
Agreements Signed in the Sectors of Logistics, Infrastructure, Utilities, Transport and Engineering
New Delhi, Delhi, India, Tuesday, March 23, 2010 -- (Business Wire India) -- Ten agreements were signed today between Belgian and Indian companies in New Delhi. These were signed in the framework of the visit of a 340 strong economic mission to India, presided over by HRH Prince Philippe of Belgium and led by Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade, Mr. Steven Vanackere. HRH Prince Philippe is in India from March 22nd - 27th, on an official visit on the invitation of the Vice President of India, HE Mr. Hamid Ansari.
The 10 agreements signed between the Indian and Belgian companies are in the sectors of logistics and infrastructure, renewable energy, transport and engineering. Specific seminars in these sectors have also been organized for business people active in these sectors from both countries.
"The Indo-Belgian signing ceremonies hold special significance in light of the rapid economic development in India. It clearly indicates the interest and commitment of Belgian companies to work in partnership with their Indian counterparts across diverse sectors to further collaboration, learning and growth", said Deputy Prime Minister, Minister of Foreign Affairs and Foreign Trade of Belgium, Mr. Steven Vanackere.
The agreements signed today include:
-- Tractebel Engineering with GAIL India
-- Eurostation and Immo Star Ltd with RITES
-- Dredging International (International Seaports Dredging Ltd) with Kakinada Seaports Ltd
-- Sarens with Larsen and Toubro Ltd.
-- Soudal with McCoy Silicones
-- ZingaMetall and John Galt with Vestas Hose Division Pvt. Ltd.
-- Belgium Luxembourg Business Association (BLBA), established in New Delhi with Belgo-Indian Chamber of Commerce industry (BICCI) with its base in Brussels
-- AWEX will sign a letter of Intent with New Ventures India and one with the Foundation of Innovation and Technology Transfer of the Indian Institute of Technology (IIT)
-- Port of Antwerp and Port of Mumbai
GAIL India Ltd. through today's signing appointed Tractebel Engineering Pvt. Ltd as engineering and project management consultant for executing the project for laying of an 800 Km of 36" diameter pipeline from Haldia (West Bengal) to Jagdishpur (Uttar Pradesh). Tractebel Engineering will hold total and single point of responsibility from design to commissioning and project close out. Tractebel Engineering is a Belgium based, international company providing life-cycle consultancy and engineering in power, nuclear, gas, industry and infrastructure.
In the transport sector, the MoU between Eurostation and Immo Star (companies with a 100% affiliation to the Belgian National Railways Group) with RITES will install a privileged partnership for the companies involved, to explore opportunities for participation in and execution of various railway projects in India and abroad on a common platform.
The MOU signed by the partners - Dredging International / Kakinada Seaports Ltd / International Seaports Dredging Ltd covers the increase of the dredged depth at the Kakinada Deep Water Port, one of India's busiest ports to -13.5 meters as well as to reclaim area.
The Kakinada Deep Port plays an important role in the efficient turnaround of vessels requiring replenishment, bunkering and ancillary services. An increase in commercial and industrial activities has led to the expansion of port jetties and backup area for handling huge quantity of cargos and ships.
Another contract signed in the transport sector between Sarens Group of Belgium and Larsen and Toubro Ltd (L&T), an Indian engineering and construction giant will provide L&T with heavy cranes for the refinery project in Mangalore.
Soudal, a Belgian based leading manufacturer of sealants, adhesives, foams and other chemicals and McCoy Silicones Limited, India's largest independent sealants and adhesives Company with today's agreement created a 50/50 Joint-Venture. This JV will act as a new joint company and operate as a separate entity that will produce and distribute in the SAARC region under a dual brand strategy. To this purpose, both parties bring in their R&D know-how, manufacturing expertise, sales and marketing know-how and their general knowledge about local practices.
ZingaMetall and John Galt ZINGA Technologies today signed a dealership agreement with Vestas Hose Division Pvt. Ltd. appointing them as dealers for Northern India. The Belgian ZingaMetall, provides special corrosion solutions and is represented in India exclusively by John Galt ZINGA Technologies.
The partnership agreement between BLBLA (Belgian-Luxemburg Business Association) and BICCI (the Belgo-Indian Chamber of Commerce & Industry), two important business chambers/associations bringing together Belgian and Indian companies, will encourage business links, economic co-operation and two-way trade between Belgium and India.
AWEX signed individual letters of intent with CII-Sohrabji Godrej Green Business Centre and the Foundation for Innovation and Technology Transfer of IIT, to extend the program WalloniaTech to India. The goal of this program is to identify the brightest entrepreneurial talent in India and connect these entrepreneurs with investors and strategic partners in Europe to turn their innovations into a global success.
Port of Antwerp, Europe's second largest port and the fourth largest in the world also announced its agreement with the Port of Mumbai. The agreement is scheduled to be signed in New Delhi in the presence of HE Mr. G.K Vasan, Minister of Shipping.
The agreements signed today on the occasion of the Belgian Economic Mission's visit to India, presided over by Prince Philippe marks the commitment of the two countries at the corporate level to strengthen institutional, political and economic linkages.
Notes to the Editor:
HRH Prince Philippe is presiding over an Economic Mission of 250 business people representing 160 companies. Leading the Mission is HE the Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade of Belgium Mr. Steven Vanackere. The Economic Mission is multi-sectoral with important clusters in logistics and infrastructure, automotive, ICT, renewable energy and aerospace, for which specific seminars are being organized across New Delhi, Pune, Mumbai and Bangalore. At the occasion of the visit of HRH, an impressive 28 high-profile business contracts and agreements will be signed across the four cities.
HRH Prince Philippe is joined by Her Royal Highness Princess Mathilde and HE Mr. Steven Vanackere, Deputy Prime Minister and Minister of Foreign Affairs and Foreign Trade of the Kingdom of Belgium. This is HRH Prince Philippe's fourth economic mission to India.
Trade and Economic links between India and Belgium
Belgium is currently India's third most important trading partner within the European Union (EU), preceded only by Germany and the United Kingdom (UK). Total bilateral import and export exceeded Euro 8.7 billion in 2008. There are close to 150 Belgian enterprises formally established in India and several of the most distinguished, international Indian companies are active in Belgium. These include Tata Consultancy Services (TCS), HCL, NIIT, Jet Airways, Jubilant Organosys, Crompton Greaves and Raymond, among others.
Bilateral economic relations are framed by several agreements between India and Belgium. These include a double taxation treaty, a bilateral investment treaty, a cooperation agreement in the area of science and technology and various transport agreements. A bilateral social security agreement between Belgium and India entered into force on September 1, 2009. Belgium is the first nation to have entered into such an agreement with India.
CONTACT DETAILS
Haritma Datt Mishra, Belgian Embassy, +91 (11) 42428000, Haritma.datt@diplobel.fed.be
Kruti Arora, Creativizt, +91 9899671686, krutiarora@gmail.com
KEYWORDS
ECONOMY, POLITICS, SOCIAL, CHEMICALS, CONSTRUCTION, ENERGY, TRANSPORT
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