Pune's Tiana Group in industry, services pact with Japan's Mitsubishi Corporation

Pune, May 11 (ANI-Businesswire India): The diversified Pune-based Tiana Group plans to enter into a partnership with Japan's industrial behemoth Mitsubishi Corporation in the area of power generation, infrastructure development, oil and gas and an array of industry and services sectors in India.

The Government of India has accorded an in-principle approval to Tiana Group's plans to set up 90 power projects across the country in hydel, thermal, solar, wind and nuclear power segments using the expertise of Mitsubishi Japan to set up, operate and maintain these power plants.

The group is committed to supplying low cost power to the Indian consumers and will take the necessary steps right from the beginning. Tiana Group is particularly keen on contributing to the effort of pollution control in India and will seek the help of Mitsubishi Corp in this effort as well Tiana Group of Companies Director Mr. Mohammedi Fatehi said.

Tiana Group of Companies Director Mr Mohammedi Fatehi added that Tiana Group is fully aware of its responsibilities as a power producer towards the environment and co-operation with Mitsubishi will play a major role in limiting the pollution caused by the Groups thermal power projects.

"The Group's thermal power projects in Guhagar and Anjarle (Ratnagiri, Maharashtra) will be free of pollution thanks to the German technology. These projects will not be harmful in any way to the crops or people's health in the area and will not pollute the water in any way. We will in fact try to process, use and reuse sea water in the thermal power generation. Our projects will generate employment, protect environment and improve the standard of living of the local people. We have already announced that the Group will offer land owners educational and medical facilities free of cost and will offer these facilities for others at concessional fees."

Tiana and Mitsubishi Groups will also work together in areas such as Infrastructure Development including construction of roads bridges and houses, Automotives, Airlines, Railways, Shipping, Cement, Oil and Gas, Banking and Financial Services and Electronics.

The two groups will sign a Memorandum of Understanding in Pune in the next week.

Hideaki Omiya, Chairman of Mitsubishi Heavy Industries Ltd. will be in Pune for the signing ceremony, for which a high level team of managers from Mitsubishi will also be present.

Soon after the signing of the MOU, Tiana and Mitsubishi will sign detailed contracts in Japan, said Fatehi said here today. (ANI)