China’s largest private companies, East Hope Group, will invest USD 300 million in setting up manufacturing units at the Mundra SEZ in partnership with Indian infrastructure giant Adani Group.

The memorandum of understanding (MoU) signed by the two firms proposes to set up manufacturing units to produce solar power generation equipment, chemicals, aluminium and animal feed in Gujarat.

It will also put in place East Hope Group’s engineering and industrial integration chain to recycle and economise the product cost at Mundra SEZ, it said. The MoU was signed between Amit Uplenchar, President of Adani Ports and Special Economic Zone and Meng Changjun, President of East Hope Group (Investment) in the presence of Consul General Prakash Gupta yesterday.

The MoU is proposed to convert into a definitive agreement within a period of 180 days and would cover areas of specific cooperation outlined as per agreement between the two sides.

An estimated investment of more than USD 300 million is expected to be made by the East Hope Group in India, as part of the proposed cooperation between the two companies.

East Hope, the Chinese counterpart signing the MoU, is a Renminbi 70 billion Group, and is one of the largest corporate houses in China, having business interests in aluminium, polysilicon, power and animal feed. It is among the top 10 aluminium producers in the world, having 150 subsidiaries.

here is company details.

 

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