Chinese companies to invest $5 billion in IndiaStaff writer ▼ | October 20, 2015
China's construction equipment manufacturer Sany Group and Chint Group have unveiled plans to invest around $5 billion in the country's renewable energy, construction equipment and housing sectors.
Made in India Renewable energy boost
Chint Group chairman Nan said the group will invest $2 billion in solar power and equipment. Chint Group is a leader in industrial equipment production and clean energy fields.
Besides generating 4.8 terra-watthours (TWh) of green and clean power annually, these projects will prevent carbon emissions of around 3.6 million tons per year.
Liang Wengen, Sany Group Chairman said that the agreement will boost the mutual cooperation to a new height. Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant said that the government will fully support Chinese investment into India and this initiative is yet another step towards the 'Make in India' drive launched by Prime Minister Modi. ■