 "Raman Singh")
Chinese firm Hong Kong Jinyuan International Development Ltd would set up a cement plant in Chhattisgarh.
The firm was incorporated in 2015 and is based in Hong Kong. The company operates as a subsidiary of Jinyuan Cement Co Ltd.
“The company inked a memorandum of understanding (MoU) with the state government in Shenzhen (China) and announced to invest $1 billion to set up a cement plant in Chhattisgarh,” Subodh Kumar Singh, secretary commerce and industries, said.
According to officials, the Chinese firm’s officials would visit here to complete the remaining formalities that include project report and location.
Jinyuan would not be the first Chinese company proposing to set up a cement plant in Chhattisgarh. The france-based Lafarge also has a plant in the state’s Balodabazar district. Besides coal and iron-ore, Chhattisgarh had been endowed with high quality limestone deposits.
Singh said seven MoUs were signed between different Chinese firms and the Chhattisgarh government at the business meet held in Shenzhen on Saturday. A high-level delegation led by Chief Minister Raman Singh is presently on a China visit under the Chhattisgarh Business Mission. “The state government had signed investment intents of $2.4 billion (Rs 16,000 crore approximately) in solar manufacturing, electronics, cement and electric vehicles,” Singh said.
The Chinese company, Asia Pacific Generation Ltd would be investing $600 million for setting up a solar power plant while China Henan Bumper has shown interest in investing $500 million for an electric vehicles production line. The other MoUs included Guangzhou Juan Optical and Electrical Tech Joint Stock Co for the manufacture of security cameras and network video recorders, Kootion Technology for USB drive manufacturing, Risen Energy for a solar photovoltaic cell project and Shenzhen Fluence Technology PLC.
