Web Exclusive | September 2016
Chinese co to set up textile unit in Uttarakhand
A delegation of Chinese Textile Company, Zhejiang Daoqin Textile Co Ltd has expressed interest in setting up of a textile industry in the Sitarganj Pase-II industrial estate in Uttarakhand State for which it would be making investment to the tune of Rs 600 crore. In this connection, a delegation of the Chinese textile company met Chief Minister Harish Rawat.
Zang Chain, Charlee Yang and Lee Guambri from Zhejiang Daoqin, Textile Co Ltd along with Uttarakhand Chief Secretary Shatrughan Singh, SIDCUL Managing Director R Rajesh Kumar and other senior officials attended the meeting. Rawat and Dr Rajesh Kumar assured the delegation of all support and necessary help through the State’s single window system.
This venture will provide employment to around 8,000 people. According to the State Industrial Development Corporation of Uttarakhand (SIDCUL), it will be the first Chinese company to make 100 per cent FDI in India.