The Gujarat government on Monday signed a memorandum of understanding (MoU) with China's leading machinery equipment manufacturer Sany Group where the group will invest $2 billion in the state in the fields of wind energy, solar energy, housing and smart cities over the next five years.
"I welcome Sany Group to Gujarat and ensure all support from the government. We look forward to timely completion of the projects and am confident that these projects will help us make Gujarat greener, smarter and future-ready," said Mamta Verma, Industries Commissioner, Gujarat.
Sany Group will help develop 1,000 MW of wind power from 2017-2022; 1,000 MW of wind and solar power from 2017-2020; set up a facility for manufacturing wind turbines starting 2017; develop at least one smart city and set up a factory for housing in the state.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)