Despite delay in flight to Beijing, Chief Minister Sri N. Chandrababu Naidu began his China tour meeting the executives of Sinoma International Engineering Co Ltd and India LNVT in Beijing.
Sinoma International Engineering Co. Ltd which operates in equipment manufacturing and supply and engineering sector, has expressed its interest in making investments in cement and wind energy projects.
Being the first delegation from India to visit Sinoma, Song Shoushan, Chairman of Sinoma International briefed the Chief Minister about their company.
He explained that the company supplies equipment for 170 cement plants all over the world.
Elaborating on the cement industry in China and their company’s role, Mr. Shoushan added that the capacity of cement industry in China is 3.5 billion metric tonnes, to which Sinoma is a major contributor.
Shoushan mentioned that they see India as a potential market for the cement industry and that Sinoma looks at Andhra Pradesh state as a potential state for their biggest manufacturing facility in India.
Stating that they are currently studying the cement market trends in India, the group sought inputs from the delegation to understand the system of approvals and taxation structure in India.
Apart from the cement industry, Sinoma International has also said that they are exploring possibilities to invest in solar and wind power projects.
The Chief Minister expressed his pleasure over the interest the Chinese group has shown in investing in India. He elaborated on the rise of growth momentum after Narendra Modi was sworn in as the Prime Minister last year.
He also explained that Andhra Pradesh has a rich base of natural resources. He added that the state has the largest limestone reserve in the country which could boost Sinoma’s chances to look at AP to set up its cement facility.
He also mentioned that the state government has announced Amaravati as its capital name and that there will be a lot construction activity in the capital area. This area would have a large appetite for cement consumption, he added.
The Chief Minister also explained about the single-desk system and country-specific desks that AP offers to foreign investors. Later, he extended an invitation to the Sinoma group to visit the sites in Andhra Pradesh and inform other investors in China about the potential for investments in Andhra Pradesh.
The government will again meet the members of Sinoma International on Tuesday to further extend their talks. (INN)