Plan to set up $500 mn facility near Chennai: Huawei

Chinese telecom equipment maker Huawei plans to set up a $500 million manufacturing facility near Chennai, the state government has said.

Huawei gave an assurance in this regard to a delegation of Tamil Nadu officials, led by Deputy Chief Minister M K Stalin, visiting China.

An official release here said Huawei officials met the delegation on Wednesday and "after this meeting, Huawei confirmed that it proposes to invest about $500 million for establishing a state-of-the-art telecom equipment manufacturing facility near Chennai".
    
The delegation assured the Chinese firm of the support and cooperation of the state government, the release added.
    
During the visit, Stalin also launched the first piece of equipment manufactured in the Chinese facility of Coimbatore-based Lakshmi Machine Works at its Chinese subsidiary, LMW (Suzhou) Ltd China, in the Wujian Economic Development Zone near Shanghai, the release said.
    
In his address at the event, Stalin called for greater economic cooperation between India and China and said "closer economic ties between the two Asian giants will bring peace and prosperity to the region."
    
He also expressed confidence that LMW will play a dominant role in the Chinese textiles machinery market. A copy of his speech delivered at the event was released here.
    
Stalin, who holds the industries portfolio in the Tamil Nadu government, among other charges, had left for China and South Korea on Monday to attract industrial investment to the state. He is being accompanies by top officials, including Industries Secretary Rajeev Ranjan.