East Hope Group, a Renminbi 70 billion group, and is one of the largest corporate houses in China, having business interests in aluminum, polysilicon, power and animal feed has signed a memorandum of understanding (MoU) with Adani Group to invest $300 million for setting up manufacturing units at Mundra special economic zone (SEZ).
According to MoU the Group proposes to set up manufacturing units in Mundra SEZ in Gujarat to produce solar power generation equipment, chemicals, aluminum and animal feed.
It will also put in place East Hope Group’s engineering and industrial integration chain to recycle and economize the product cost at Mundra SEZ.
The MoU is supposed to be 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 $300 million is expected to be made by the East Hope Group in India, as part of the proposed cooperation between the two companies.
This is a Syndicate News Feed; edited by Clean-Future Team