China’s Sany Group to invest $1 bn in India over 10 years
Chinese heavy equipment major Sany Group on Saturday said that it plans to ramp up its presence in the country and will be taking its overall commitment in India to $1 billion over the next decade.
“We have already invested $100 million in our plant in Pune and are looking at taking our investment in the country to the tune of $1 billion over the next 10 years,” said Sany Group President Tang Xivguo.
Its plant at Pune manufactures 1,000 units of heavy equipment per annum at present, he said. The company has interests in heavy equipment, port machinery, energy and technology solutions.
It has put up a stall, along with many others, at the specially created facility for the Make in India (MII) Week at the Bandra Kurla Complex (BKC) in Central Mumbai.
Over 2,500 international and 8,000 domestic companies are participating in the week-long multi-sectoral industrial event, which is also being attended by foreign government delegations from 68 countries and business teams from 72 nations.