lal Commercial Agreements

(Continued from page 8)

for three million people in North-
ern India and will help eliminate
more than a million tons of green-
house gas emissions and annu-
ally save over 100 million gallons
of oil.

Ogden Energy (New York, NY)
signed two business agreements
with Indian counterparts for the
development of regional power
projects.

Balaji Power Project: Ogden
signed an agreement formalizing
its partnership with Balaji Power
Corporation. The two partners
will build, own, and operate a
106 MW greenfield power project.

Shree Maheswar Power Project:
Ogden signed an agreement with
the Madhya Pradesh Electricity
Board for the construction of a
hydropower dam. When com-
pleted the dam will provide 400
MW of hydroelectric power to the
Madhya Pradesh region.

U.S. Energy Association (USEA)
(Washington, D.C.) signed an
agreement with the Confedera-
tion of India Industry (Cll) estab-
lishing a joint Indo-U.S. private
sector trade and investment work-
ing group which will work with
the both governments to promote
commercially viable clean energy
and environmental opportunities.

Environment

¢ Global Market Resources, Inc.

(Cary, NC) which is the autho-
rized Asia distributor and con-
sultant for the Hydroclave Sys-
tems signed an agreement with
the Indian company Healing
Medicaids Private Ltd. for the
purchase of the Hydroclave medi-
cal waste system. The Hydroclave
technology provides an environ-
mentally friendly alternative to
traditional incineration technol-

ated with incineration as well as
reducing the volume and weight
of waste.

LightStream Technologies, Inc.
(Reston, VA) signed a business
agreement with its Indian part-
ner, Subhash establishing a stra-
tegic alliance through which
LightStream seeks to introduce its
chemical-free, high-powered
pulsed ultraviolet light water dis-
infection technology.

Water Systems International
(Washington, DC) signed an
agreement with Haryana State
Industrial Development Corpora-
tion to establish a state-of-the-
art manufacturing facility for
water purification units. WSI is an
environmental engineering firm that
has been active in India, focusing
on water treatment solutions and
drinking water problems. This will
be its first project in Haryana

Tourism

World Corporate Club, Inc.
(Annandale, NJ) signed a busi-
ness agreement with the Indian

Company, Flex Group of Compa-
nies, to evaluate the suitability of
property for the construction of
an international business club in
New Delhi.

In addition to these commercial
agreements, two Memoranda of
Understanding (MoU) were singed
between the two countries. Under
the two MOUs, EXIM of the United
States has pledged $1 billion for
Indian small businesses to purchase
U.S. made goods and services.

MOU between the Export Import
Bank of India and EXIM Bank of
the United States U.S.

MOU between with the Industrial
Development Bank of India (IDBI)
and the Small Industries Devel-
opment Bank of India, a subsid-
iary of IDBI geared to meet the
needs of small and medium-sized
enterprises.

EXIM Bank of the United States also
approved a preliminary commitment
for $358 million in financing to sup-
port the purchase of 10 Boeing
aircrafts for Jet Airways of India.

U.S. President Clifton being received by President K. R. Narayanan at a ceremonial
reception in New Delhi on March 21, 2000. Prime Minister Vajpayee and the U.S.
President's daughter Chelsea Clinton are also seen.

ogy, alleviating the air pollutants
and water run off effects associ-

INDIA NEWS ° April 2000 9

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