Chinese cos plan to invest $1 bn in Gujarat this year.

The Chinese are coming to Gujarat big way! To start with, they plan to set up a China town next to automobile hub at Sanand, for automotive companies with housing facilities.

Responding to Indian External Affairs Minister Sushma Swaraj appealing to her visiting Chinese counterpart Wang Yi to set up industrial parks in the country, a group of Chinese companies has short-listed three locations near Sanand in Ahmedabad district for this purpose. These are Sachana, Jakhwada and Dalsana.

A consortium of Chinese companies is expected to initially invest nearly $200 million (Rs. 120 crore), Jagat Shah, Interim Secretary-General, China-India Trade and Investment Centre (CITIC), told Business Line recently. In all, the Chinese companies have a target to invest $1 billion in Gujarat this year, he said.

This was only the first group of visiting businessmen. 'Each month, a group representing nearly 10 companies will now be visiting Gujarat. They will form a consortium to initially invest $200 million.'

A delegation of 15 Chinese companies from Wengzhou of Zhejiang Province, which arrived in India along with its Foreign Minister last week, visited Delhi and Ahmedabad scouting for fresh investment opportunities during the last couple of days.


HBL