Pradesh Industry Co., Ltd.
hereinafter referred to as
Tianrui Commerce and Trade Co., Ltd. hereinafter referred to as
consultations, the Parties agree to cooperate according to this Memorandum of
parties together set up India Uttar Pradesh China Industries Park Co., Ltd. Accounting
for 51% of the shares in the company, party A need provide 300 acres of land
and make sure the company get the support from the government of Uttar Pradesh
(including the century goverment) by the relevant preferential policy of the exemption
of enterprise income tax for more than three years since the company get a
profit. Products from the Industries Park should have the priority in the power
of sale in the area of Uttar Pradesh (including the procurement
by the government of Uttar Pradesh). Accounting for 49% of the shares in the
company, party B contracts to manage the company with the responsibilities
including introducing the Chinese entreprises from petrochemical, railway
equipment, building materials, medicine, food, electronics, small commodity and
etc into the Industrail Park to produce goods to supply the Indian market and
international market and bringing investment no less than $300 million in 4
years since the completion of water facilicities, electricity,
telecommunications, field. After 4 years, the annual output value need be more
than $500 million and the annual enterprise income tax need be more than $60
parties jointly mortgage the projects and lands in the Industrail Park to BRIC
National Bank and Asian Infrastructure Investment Bank and other related banks.
Loan funds should be used to the infrastructure construction in the park and
the construction for production line of Euro V standard gasoline made by methanol
with the annual output of 20 million tons. Party B should ensure the recovery
of all the capital used for the investment in production line of Euro V
standard gasoline made by methanol in 30 months after going into production
since the completion (construction could spend 8 months with complete infrastructure
and peocedures). Were there any loss, such as the unsuccessful recovery of all
the capital used for the investment in production line in 30 months, party B
should share 50% of its own benefits to serve as the floating capital of the
company. Party B would take responsibility for full loss if any loss occurred
and all the profits except anticipated profit should belong to party B.
A should take responsibility for handling relevant construction and sales
procedures for a number of low-cost housing with its land provided by
government and buyback by government, which would be needed in Uttar Pradesh. The
parties jointly collaborate to mortgage the land and sales procedures to BRIC
National Bank and related Chinese banks for loans using in housing
construction. Party B would take responsibility for introducing the advanced
construction technology of low-cost housing: full hardcover, completely
assembly, full cast-in-situ, and shear wall steel-concrete construction.
Steel-concrete structure would confront to global norms. By comparsion, manual
labor would decrease more than 50%; construction cost would reduce more than
10%; construction period would shorten more than 40%. The ablitilies of
insulation, anti-seismic, and fireproof performance would prove to be
parties jointly invest in the construction of hydropower station in Nepal to
supply electricity for the cooperative Industrail Park and Uttar Pradesh.
issues not stipulated in this Memorandum of Cooperation, both parties shall
resolve through friendly consultation.
6. The Memorandum
of Cooperation shall enter into force upon signature by both parties. Through
sincere cooperation, a win-win result with both social efficiency and economic
efficiency could be obtained.