Chinese construction equipment maker Sany Group has pledged to invest $3 billion (about Rs. 20,000 crore) for building 2000 Mega Watt of Renewable Energy Projects in Indiaover the next 5-6 years between 2016-20.Sany Group Chairman Mr. Liang Wengen presented the Green Energy Commitment to Prime Minister of India Narendra Modi.
#China's #SANY Group to invest $3 billion (Rs.20,000 Cr) in renewable energy in #India pic.twitter.com/TMTSkIsRTA
— Press Release Watch (@PrReleaseWatch) October 15, 2015
Sany will establish efficient technologies for Off-Shore Wind Power Generation. Sany Group will bring in its relevant expertise, operational excellence and global best practices for development of Renewable Energy in India.
Currently, the company employs about 30000 people globally and 269 people across India. Sany Group entered India market in 2002 and established a manufacturing plant in 2009 in Chakan, Pune. In India, the company operates in Excavator, Cranes, Concrete Machinery, Port Machinery, Road and Renewable Energy businesses.
Commenting on the announcement, Mr. Liang Wengen, Chairman of the Board, SANY Group, said, “This investment is a significant step in deepening Sany Group’s presence and commitment to India. Green Energy industry in India is growing and we see this as a huge opportunity to introduce our wind Energy business in the country. We have invested in a potential market like India, and are excited about the future growth & potential for future investment. We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height.”
Founded in 1989, the SANY Group has developed to be one of the world's largest manufacturers of construction equipment. Sany India is a wholly owned subsidiary of Sany Heavy Industry Co Ltd (Sany Heavy Industry) which has its global headquarters in Changsha along with the Sany Group (Sany) headquarters.
Sany India was established in December 2002. In the year 2007, SANY Group signed a memorandum with the Maharashtra government to invest USD 100 million and purchase an 80-acre (about 333,000 square meters) plant at Chakan Industrial Area, Pune to build a new plant to satisfy the continuously increasing demand of construction machinery in the Indian market. This was the first big Chinese investment in Maharashtra and also the first overseas investment for SANY Group. The products coming out of Chakan plant, Pune includes crawler cranes, boom pump, concrete pump, transit mixer, batching plant, motor graders, excavators, backhoe loaders, piling rigs, etc. Sany India employs over 269 people in India.