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Chinese group keen to invest in Telangana

Hyderabad: China’s Leo Group of companies is keen to manufacture heavy duty pumps in Telangana with a likely investment of Rs.1,000 crore, officials said.

Telangana Chief Minister K. Chandrasekhar Rao, who is on a visit to China, on Tuesday met Leo Wang, chairman of Leo group of companies in Dalian.

“Leo expressed his company’s willingness to invest in Telangana in manufacture of heavy duty pumps. Investment of around Rs.1000 crores is the possibility as a result of the meeting,” said a statement from the chief minister’s office here.

Rao, who is leading a delegation comprising ministers and top officials, met CEOs of top 30 companies located in Liaoning state. They discussed the possibility of investments in Telangana.

Indian Ambassador to China Ashok Kantha and other officials from the embassy briefed the chief minister on China’s situation and prospects and potential of Chinese companies to make investments in India, especially in Telangana.

KCR, as Rao is popularly known, reached Dalian late on Monday on a 10-day visit to China. He is participating in the World Economic Forum meeting in Dalian.

Meanwhile, Jiande Ye, president of China Council of Promotion of International Trade (CCPIT), Shenzhen Council, has invited KCR to visit Shenzhen for exchanging ideas on mutually beneficial cooperation in trade and investment. In a letter the chief minister, he said that Shenzhen based companies are increasingly keen to invest in foreign markets and are looking for opportunities abroad including in India.