$100 billion dollar Chinese group to set up industrial townships in India

DALIAN/CHINA, 12SEPT09 - Wang Jianlin, Chairman and President, Dalian Wanda Group, speaks during the Success versus Survival in a Global Downturn session at The World Economic Forum Annual Meeting of the New Champions in Dalian, China 10-12 September 2009. Copyright World Economic Forum (www.weforum.org/Natalie Behring)

New Delhi: The $100-billion Chinese company, Dalian Wanda Group, is planning to develop industrial townships in India with built-in facilities such as schools, hospitals, shopping malls and recreational centres; a top official of the company has said.

Wang Jianlin, chairman of the group, expressed his company’s interest while interacting with the Indian business community convened by the Confederation of Indian Industry (CII) here, according to a statement from the chamber.

Wang said, that he was impressed with the foreign investment norms of the government and said this was his follow-up visit to India, after meeting with Prime Minister Narendra Modi during his China visit in May.

He said that he would closely work with the local state governments to attract Chinese investments in the industrial townships set up by the Dalian Wanda Group.

Amitabh Kant, secretary, Department of Industrial Policy and Promotion, told the session that areas such as media and entertainment, tourism and culture should also be promoted bilaterally to create people to people awareness.

In his opening remarks, Chandrajit Banerjee, director general, CII, said that the centre piece of recent India – China engagement has been their cooperation in the economic sphere and the widening footprint of Chinese businesses in India and vice-versa.

The $100-billion dollar Chinese company, founded in 1988, operates in the areas of commercial property, luxury hotels, culture and tourism, and department stores.

As many as 40 senior industry members from infrastructure, construction, tourism, hospitality, and media and entertainment participated in the interactive session. (IANS)