Zhongtong has taken 15 acres of land in the industrial zone of the Aerotroplis city, a state official said.
The MoU will be signed for the project after the puja holidays, the source said.
The construction work for the Bengal Zhongtong factory is expected to commence from January next year.
Zhongtong Bus Holding Co Ltd is a China-based bus manufacturer and supplier of diverse types of buses and coaches.
The company is planning to produce 1,500 buses annually, the source added.