Sino Great Wall to invest $50 m in global building material hub

 Beijing-headquartered Sino Great Wall International Engineering (SGW), the Shenzen-listed  company for general contracting engineering with a market value of $3 billion, aims to invest $50 million for global building material hub in Bengaluru.

Talking to DH, Sino Great Wall International Engineering General Manager Robbie Liang said, “We are sourcing 45 acres of land near international airport which will help for shipment of construction materials. In the initial stage, we are planning to invest $50 million and hopefully, in next six months we will start construction.”

Liang added, “We realised that many Indian real estate developers visit China to source building materials. We are creating an opportunity for them to buy the materials directly from the hub which will save time and cost.”

SGW is inviting companies who are engaged in building materials not only from China, but also from other countries to set shop. SGW, which has presence in 30 countries globally, involved in major developing infrastructure projects.

“In order to quickly complete the project, we are planning to bring a minimum of 1,000 skilled Indian workers from our ongoing Middle East projects,” he added.

Partners with Fortuna

Meanwhile, SGW has forayed into India through a JV with Bengaluru-based Fortuna Group to develop real estate projects across the country.

SGW Fortuna, the JV entity, has obtained Foreign Investment Promotion Board approval and its equity split will be 80% SGW and 20% Fortuna. SGW’s initial investment will be $50 million in the JV, and will bring in similar investment within the next 18 to 24 months. SGW Fortuna will be headquartered in Bengaluru, and start its real estate operations from here.