Jacob Mannothra, Managing Director, Zindia Limited (INZBC EC Board member and Managing Director, Indian Newslink), signed a Memorandum of Understanding (MoU) with Karan Adani, Chief Executive of Adani Port and SEZ Limited to develop an industrial port for wood products processing and remanufacturing at Mundra Port in Ahmedabad, Gujarat.
Among those present at the signing ceremony were New Zealand Prime Minister John Key and India’s Federal Minister of State for Finance Arjun Ram Meghwal and other dignitaries.
Called, ‘Adani Zindia Timber Industry Park,’ the Project is excepted to cost $200 million, the Project will envisage initially 200 acres, to be scaled up to 1000 acres in Mundra Port replicated in three other locations in India. Mr Mannothra said that technology leaders in New Zealand, Finland, Sweden, Germany, UK, USA and Japan will be involved with the Project, with IKEA as the major off-takers..
“Zindia is promoting this Project in association with Adan, bringing major benefits to New Zealand and India. The Adani Group owns the biggest private port in India in Mundra besides five other ports strategically located in India,” he said.