Hyderabad: Chinese companies are shying away from investing in Telangana state government’s infrastructure and irrigation projects. It’s exactly a year since Chief Minister K. Chandrasekhar Rao visited China to seek investments and signed MoUs.
As a follow-up to his tour several Chinese firms visited TS and met the CM last year but none invested in any irrigation or infra project doubting repayment capacity.
TS will send a delegation to China soon for negotiations. Mr Rao met representatives of more than 90 companies in China. He addressed 65 companies in Shanghai.
China’s Leo Group promised to invest Rs 1,000 crore to manufacture heavy duty pumps in Telangana. The Gezhouba Group had promised investments in irrigation. But no progress has been made so far.
Only the MoU signed with Celkon and Makeno to invest $20 million in Hyderabad to set up an LeD TV unit had fructified.
