1 Year Passed – Any Fruits From KCR’s China Tour?

One year passed since Telangana Chief Minister K. Chandrasekhar Rao visited China seeking investments but no major investment from Chinese firms has been witnessed so far.

In fact, KCR met representatives of over 90 companies during his China visit last year and signed couple of MoUs as well. But, Chinese companies are heard to be shying away from investing in Telangana as they are doubtful of the repayment capacity of the state government.

Leo Group of China had earlier promised to invest Rs 1,000 Cr to manufacture heavy duty pumps and the Gezhouba Group had promised to invest in the irrigation projects in the state but no such investment has been made until now. The only fruitful MoU was the one signed with Celkon and Makeno to invest $20 million to set up a LED TV unit in Hyderabad.

Reportedly, TS govt. is planning to send a new delegation to China to make further negotiations and assure the Chinese firms of timely repayments.