Sany to Invest $5 Billion in India Construction and Energy Projects
Chinese construction equipment manufacturer Sany Group announced it will invest up to $5 billion on renewable energy, construction equipment and housing in India. The company has committed to Prime Minister Narendra Modi to develop 2,000 MW of renewable energy projects in India at an investment of $3 billion, which is expected to create 1,000 jobs during the next five years.
“This investment is a significant step in deepening Sany Group’s presence and commitment to India,” said Sany Group chairman Liang Wengen. “Green energy industry in India is growing and we see this as a big opportunity to introduce our wind energy business in the country.”
Sany said besides generating 4.8 terawatt hours of green and clean power annually and creating jobs, the projects will prevent carbon emissions of about 3.6 million tonnes per year.
“We believe that the agreement signing with Indian new energy enterprise will boost the mutual cooperation to a new height,” Wengen added.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.