Chinese major FAW Foundry mulling investment in India
Chinese automotive casting manufacturer FAW Foundry Company is looking for Indian partners to set up a venture in the country, a top company official said Tuesday.
“As one of the largest suppliers of automotive parts in China, we are desirous of investing in India, probably by establishing a casting plant here. We are looking for a suitable partner and opportunity,” Sun Feng, president of FAW Foundry said here.
The company is based in Changchun in China’s Jilin province. It operates as a subsidiary of China First Automotive Works (FAW) Group Corporation – one of the largest automakers in that country.
The company also has a joint venture with India’s Bharat Forge Ltd and manufactures forged automotive components for passenger cars, buses, and commercial vehicles as well as forged products for the railway, mining, steel, and petroleum industries.
The company delegation which is in the country to participate in the 8th International Exhibition on Foundry Technology, Equipment and Supplies in Bangalore, will also visit the Tata Motors Plant in Pune to which it has been supplying auto components.
“We have a five-year-old relationship with them. This visit will be an exchange of business, administrative and managerial thoughts. We will also discuss with them on how to explore avenues to invest in India,” Feng added.
The Chinese delegation expressed surprise over the nationwide strike called by trade unions.
“It is really very surprising and something new for us. I do not remember if we have witnessed any such strike in our country,” said company vice president Zheng Zhe.
