Hyderabad: A Chinese company has promised to invest Rs 1,000 crore in heavy duty pumps in Telangana. Chief Minister K Chandrasekhar Rao, who is on a tour of China to participate in the World Economic Forum meet and also tap investments, was given the assurance by Leo Wang, chairman of Leo Group of companies.
Mr Rao began his tour of China with a series of meetings, including a meeting with representatives of Leo Group (pump sets and Leo Digital Network), Mr Wang and ambassador to China Ashok K. Kantha in Dalian on Tuesday.
Mr Leo expressed his company’s willingness to invest in Telangana in manufacture of heavy duty pumps. “Investment of around Rs 1,000 crore is possible as a result of the meeting,” a government spokesman said.
Telangana Chief Minister K Chandrasekhar Rao at World Economic Forum
CEOs of top 30 companies located in Liaoning state had a long meeting with Mr Rao on possibility of investments in Telangana.
The CM explained TS government’s new industrial policy, 24x7 electricity and investment opportunities to them.
He also told them about the single window clearance and that many prominent companies have already proposed expansion plans and allotment orders have been issued to them for setting up companies without any hassle.
He invited Leo Group to consider setting up a base in Telangana. Industries minister Jupally Krishna Rao, TRS secretary general and MP Dr K. Kesava Rao and other members were also present.
The CM discussed industrialisation and prominent industrial parks in China and sought the Indian ambassador’s support to secure investments.
K Chandrasekhar Rao with Klaus Schwab, Founder and Executive Chairman of the World Economic Forum
He also explained how Telangana had overcome the power crisis in a short span and was moving forward to become power surplus in the next two years.
On learning that the CM was leading a delegation to China and also scheduled Telangana Investment Promotion visits to other major cities in China, several requests are coming from organisations to include their place also in his schedule.
One such is the request from Jiande YE, president of China Council of Promotion of International Trade, Shenzhen Council, Shenzhen, China.
