(Image source: Sany India website)
China's construction equipment major, also the sixth largest heavy equipment manufacturer in the world, has committed to invest up to $ 5 billion in India.
A delegation of Sany group and Chinese businessmen led by Liang Wengen, chairman of the Sany Group, expressed its interest to the Prime Minister Narendra Modi to invest in various sectors in India.
The Group intents to develop 2,000 MW of renewable energy projects in India at an investment of $ 3 billion, which could generate employment for around 1,000 people. According to reports, the company is planning to invest another $ 2 billion in construction equipment and housing sector subject to various approvals by the government.
Sany Group has its presence in India, via its subsidiary Sany Heavy Industries India – which its headquartered in Pune and has five regional offices.