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According to a statement by the Indian Consulate in Shanghai, Adani Group inked a memorandum of understanding (MoU) with East Hope Group, one of China’s largest private companies, to build manufacturing units in Mundra special economic zone in Gujarat.
East Hope Group will invest $300 million in setting up the manufacturing units. The manufacturing units would produce solar power generation equipment, chemicals, aluminium and animal feed.
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, as reported by PTI.
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The MoU is proposed to convert into a definitive agreement within a period of 6 months, as reported.
East Hope, the Chinese counterpart signing the MoU, is a renminbi 70 billion group, and is one of the largest corporate houses in China. The company has a business interests in aluminium, polysilicon, power and animal feed
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