China's Sany Group to Invest $3 Billion in India.

Chinese construction equipment major Sany Group has committed to invest $3 billion, `20,000 crore, in setting up renewable energy projects in India between 2016-2020. Signing and handing over the Green Energy Commitment to the Prime Minister, the Group has committed to set up 2000 MW renewable energy projects across the country. These projects are expected to generate 4.8 TWh of green power annually. Chairman of the Group Liang Wengen said that Sany will establish technologies for Off-Shore Wind Power Generation. �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,� he said. The company currently employs about 30,000 people globally and 269 people across India and entered the Indian 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. Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, Government of India, said that the Indian government was keen on seeing China investing more in India. �Especially in the manufacturing sector and partnering with India to make India a world class manufacturing base for production. We look forward to working closely with them to strengthen the bond between the two countries,� he pointed out.