Adani inks deal with top Chinese firm East Hope Group, to invest over $300 million in Gujarat

The MoU between Adani group and top Chinese firm East Hope Group proposes to set up manufacturing units in Mundra special economic zone in Gujarat to produce solar power generation equipment, chemicals, aluminium and animal feed

Adani Group has signed a MoU with top Chinese firm to invest $300 million in manufacturing units in Gujarat. The MoU between Adani group and top Chinese firm East Hope Group proposes to set up manufacturing units in Mundra special economic zone in Gujarat to produce solar power generation equipment, chemicals, aluminium and animal feed, a statement by the Indian consulate in Shanghai said.

It will also put in place East Hope Group’s engineering and industrial integration chain to recycle and economise the product cost at Mundra SEZ

An estimated investment of more than $300 million is expected to be made by East Hope Group in India, as part of the proposed cooperation between the two conglomerates.

According to the statement, the MoU is proposed to 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.

As part of the proposed cooperation between the two companies, the estimated investment of more than US $300 million is expected to be made by the East Hope Group in India.

East Hope Group, a 70 billion company, is one of the largest corporate houses in China.

Source: With PTI Inputs