Sany Heavy Industry invested 200 million U.S. dollars to build an investment agreement in Indonesia to build the Sany Industrial Park. Recently, Sany Heavy Industry has become the first Chinese company to invest in Indonesia's manufacturing industry.
According to the agreement signed between Sany Heavy Industries Chairman Liang Wengen and Indonesian Deputy Minister of Industry Argus, Sany will invest USD 200 million in Karawang, the west of Java Province in Indonesia, to build the 31 Indonesia Industrial Park through land acquisition, construction of factory buildings, Equipment procurement, employment of local talents, and full cooperation with the Metal Industry Development Center, Materials and Technology Products Center, Educational Institutions, etc. of the Indonesian Ministry of Industry, and investment in phases and steps are expected to provide 1,500 jobs for the local area. post.
Liang Wengen said: "The industrial park project is expected to start within half a year after the signing of the agreement. The first phase of the project will be put into production within two years after the signing of the agreement." According to the plan, after the completion of the first phase of the project, the production capacity of the excavation machine can reach 5000 units per year.
Wen Jiabao, Premier of the State Council, who was present at the "China-Indonesia Strategic Business Dialogue" in Indonesia, together with Indonesian Vice President Budihon, witnessed the signing ceremony of the investment agreement between Sany Heavy Industry and the Indonesian Ministry of Industry. It is worth mentioning that this is the second time that Premier Wen Jiabao has witnessed the signing of overseas investment projects by Sany Heavy Industry. On January 29, 2009, Premier Wen Jiabao and German Chancellor Angela Merkel jointly attended the Sany Heavy Industry and Northern Germany. The Weizhou government signed China’s largest industrial investment in Europe.
Industry insiders believe that the single-handedly-influenced overseas investment is an expansion approach of Sany Heavy Industry that is different from other construction machinery companies. Sany Heavy Industries is good at using its own advantages to integrate foreign resources in other countries and enhance its own internationalization with international resources. . In addition to Indonesia and Germany, Sany Heavy Industry has already created a number of investment successes in India, the United States, and Brazil.
The Indonesian Minister of Industry, Sidyaat, is very optimistic about this “big†company from China. He said: "Thirty-one will compete with its counterparts already operating in Indonesia such as Caterpillar Inc. and Komatsu Japan. I am confident that SANY will be able to compete with its rivals in terms of quality, technology and price."
Informed sources said that the 31 Indonesian Industrial Park project was actively promoted by Hiddarten, the Indonesian Minister of Industry. As early as 2010, both parties of the project had already started contact. Sany Heavy Industry also purchased 10 hectares of the first phase of project land in Karawang, west of Java in December of that year. In the first half of 2011, both parties formally reached a cooperation intention. According to the plan, the mechanical products of Sanyin Indonesia Industrial Park, in addition to being sold locally to Indonesia, can also radiate the entire ASEAN market.
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