HYDERABAD: Though the state government signed an MoU with the Chinese Sany Group on Friday for setting up a pre-fab concrete manufacturing factory, the finer details are still awaited. The Chinese company has agreed to set up their factory and further agreements will be made in future discussions, official sources said.
The place where the factory will be located, the quantum of investment and other details will be discussed later, an official told Express on Saturday. However, the officials said that the pre-fab concrete manufacturing factory would be helpful for not only double bedroom flats, but also all for urban developmental plans conceived by the state government in HMDA area and other cities in the state.
Officials are optimistic that some more Chinese companies will follow suit and come to invest in Telangana state.
Sany Group has branches in 100 countries all over the globe. It has its presence in manufacturing and research and development facilities in India also. Sany was established in 1989 and is the Chinese number one and the world’s number five construction manufacturer. Sany company has been listed among the world’s top 500 companies in China’s construction machinery industry.
“When a big company came to TS from China, the other Chinese companies too will follow it. When a US-based IT company invested first in Bangalore, all US IT companies landed in Bangalore. Likewise, the Japanese invested in Tamil Nadu. We hope that when a world’s biggest company invested in TS, then other Chinese companies too will come to TS,” an official observed.
Representatives of around 45 Chinese companies attended the dinner hosted by chief minister K Chandrasekhar Rao here on Friday. “Most of them are willing to invest in solar energy, power distribution, power generation and other sectors,” an official who attended the dinner said.