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Bank of China to open its branch in Mumbai: Devendra Fadnavis

The chief minister reiterated that Maharashtra was keen on partnership with China on developing infrastructure.

Written by Shubhangi Khapre | Mumbai | Updated: May 17, 2015 12:00:15 am
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Maharashtra chief minister Devendra Fadnvais on Saturday said the Bank of China has spelled out its plans to open a branch in Mumbai . Fadnavis who is on a five-day tour to China held a series of meetings with Chinese financial institutions and industries to attract investment and partnership in the mission ‘Make in Maharashtra’.

Fadnavis said, “ The chairman Tian Guoli and GM Gao Zhaogang have declared Bank of China will open its office in Mumbai soon.” The decision to appoint the Bank of China branch head in Mumbai was also taken after the meeting was concluded.

“At this moment I am not counting on total investment. What is satisfying is the overwhelming response to Make in Maharashtra from across the industrial and financial sector,” Fadnavis said. It was heartening to note that China is treating India as equal partner in trade and commerce, he added.

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In another breakthrough, Taiyuan Heavy Industry Company Limited (TZ) has decided to set up crane manufacturing plant in Nagpur and Pune. To begin with they announced investment of Rs 200 crore for the project.

The president Wenbo Xiang of SANY, the first Chinese investor in Maharashtra also met Fadnavis. The company which already has its project in Pune assured further expansion plans. The chief minister assured that the Maharashtra government would provide all the support for the expansion project in Pune.

The business schedule included a meeting with Micheal Chong, executive manager India operation Great Wall Motors, a leading SUV and pick -up manufacturer. Fadnavis exchanged ideas on railways and road constructions with Mu Zexiang, Vice President of China Gezhouba Group International Engineering Company Limited (CGGL).

Mumbai which is gearing up for transformation into International financial centre requires a major infrastructure makeover complete with upgradation of railways, roads and bridges along the water fronts and plains. There are other two tier cities across state where partnership with global investors is also being tapped by Fadnavis.

The state’s industrial growth which is because of the significant share of automobile manufacturing sector also was discussed at the business meet. The director Huazhu Chen & BoD secretary Zhu Lei of Yapp Automotive, biggest fuel tank manufacturer in China said it was open to explore the business market in state.

The chief minister reiterated that Maharashtra was keen on partnership with China on developing infrastructure. The state government listed key areas of construction of bridges, deep sea ports where it would look for Chinese companies expertise and use of advanced technology. This was discussed at a meeting held with officials from China machinery, engineering corporation , China Road and Bridge Corporation, among others.

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