News Brief | November 2015
Chinas Sany Group to invest $3 billion in India
China´s construction equipment manufacturer Sany Group today expressed its intention to invest up to $5 billion (about Rs.33,000 crore), in renewable energy, construction equipment and housing sector in India, Sany Group Chairman Liang Wengen said. The company has committed to PM Modi renewable energy projects in India at an investment of $3 billion (about Rs.20,000 crore), to develop 2 GW of renewable energy, which is expected to create 1,000 jobs over next five years.
Wengen headed a Chinese business delegation which called on Modi where the company handed over its green energy commitment. The delegation expressed its interest to invest in various sectors in India.