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China's Sany Group to invest USD 2 bn in Gujarat; signs MoU

Press Trust of India  |  Ahmedabad 

Chinese conglomerate Sany Group today signed an MoU with the to invest a staggering USD 2 billion over the next five years in various energy and infrastructure projects in the state. The pact for the proposed investment in the state was signed today in the presence of Chief Minister at Gandhinagar after his meeting with the Chinese delegation, led by Liang Wengen, Chairman of the board, Sany Group, an official release said. After an hour long meeting, it was decided that Sany Group would be investing USD 2 billion over the next five years.

This is one of the biggest single MoU signed by any state in India, it added. Industries Commissioner Mamta Verma said, "I welcome Sany Group to and ensure all support from the We look forward to timely completion of the projects and am confident that these projects will help us make greener, smarter and future-ready". As per the MoU, Sany Group will invest in five different projects, including development of a 1000-MW wind energy project, another 1000-MW of wind-plus-solar power generation project, setting up facility to manufacture wind turbines, developing one small size smart city and setting up a factory to produce pre-cast concrete for the mass housing projects and other real estate Projects. As per the MoU, which was signed ahead of the Vibrant Global Summit to be held next year, state will provide necessary support to Sany Group in obtaining necessary permissions, registrations, approvals, clearance, etc from the concerned departments of the state.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 21:13 IST