China's Wanda Group to invest 10 billion dollars in Haryana

China's Wanda Group to invest 10 billion dollars in Haryana

China's Wanda Group will invest 10 billion dollars to develop a world class industrial park in Haryana, as per an understanding with the state government.

The state government confirmed signing the agreement in conclusion of numerous meetings that were held with the China’s real estate giant, the world’s largest cinema chain operator.

While details of how much the Wanda group will actually invest - and over how many years - were not revealed, the memorandum of understanding (MoU) was signed between after Wang met with Haryana Chief Minister Hartman Lal Khattar in Beijing.

Under the plan, the Wanda group will develop an industrial park as well as an entertainment theme park, and the company would also bring in Chinese investors in tourism and real estate to develop the park.

The proposed park, covering more than 3,000 acre, on the lines of Disney World, is to be established at Kharkhoda, in Haryana’s Sonipat district.

If the deal goes forward according to official forecasts, it would not only jump start Chinese investments in India but also provide a boost to Prime Minister Narendra Modi’s Make-in-India campaign.

The signing of this agreement clearly indicates that a new symbiotic economic relationship between India and China is beginning to take shape which will also be by far the biggest Chinese investment project in India.

During Khattar's visit and an investment roadshow organised in Beijing, MoUs were signed with other top companies like China Land Development Company Private Limited and ZTE Corporation for investing in Haryana.

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