Universal Success Enterprises Ltd (USEL) of Singapore has inked as many as three agreements with the government of Gujarat to make an investment of Rs.87,000 crore ($17.5 billion) in infrastructure projects. USEL is focused on thermal power generation, seaports and mixed-use industrial and urban development in India. The Singapore-based firm will set up a 10,000 MW thermal power plant with an investment of Rs.50,000 crore in the state of Gujarat. According to the company, it will generate about 50000 employment opportunities.

 

The thermal power project will use imported coal from group owned captive mines as fuel and will have dedicated port terminals for import of the coal, informed USEL. The company further revealed that it will invest Rs.7,000 crore (Rs.70 billion) for building ports. Initially, the port will handle cargos for power plants and after some time it will be transformed into a commercial port for handling all kinds of cargo.

 

As per the company statement, under its mix-use industrial and urban infrastructure development plan it will invest about Rs.30,000 crore (Rs.300 billion) at Dholera near Ahmedabad. This project aims to generate a huge employment opportunity which will be close to creating 50,000 jobs in Gujarat.

 

The Singapore-based Universal is engaged in infrastructure development, real estate, energy trading, hospitality and manufacturing. USEL made its debut in India in 2003 and started its operations with the development of a 130-km express highway and a 3.5-km bridge across Hooghly river connecting Kolkata with Haldia.