24.11.2006

Sany group to invest $70 m in India

Chinese construction machinery giant Sany group - which among its extensive equipment range includes truck and crawler cranes -is setting up a $70 million (£40 million) plant to build 15,000 items per year in Pune Maharashtra, India.

This is Sany's first manufacturing facility outside China. Group revenues have now reached $1 billion.

At the signing on the agreement yesterday Chinese ambassador Sun Yuxi said that the 21st century could belong to Asia but only if China and India cooperated and collaborated.

"Sany considers India to be an important partner in its future growth and that is why we want our first manufacturing facility outside China to be in India,'' said Sany chairman, Luiang Wengen. "The Sany group looks forward to investing more in India with a view to catering to our ever-expanding overseas markets."