Taiwanese TECO group to set up electric motor plant in Gujarat

Ahmedabad, Feb 20 (PTI) Taiwanese electric motormanufacturing major TECO group today said it will set up alarge electric motor plant near Vadodara soon.

"We shall be setting up a large electric motormanufacturing facility in Gujarat. Motor manufacturing is justone thing, we are thinking of many other businesses here,"TECO Group Chairman Theodre M H Huang told PTI.

However, he refused to divulge the proposed investmentfor the plant.

"The manufacturing plant is expected to come up in Savliindustrial estate near Vadodara," a top state official said.

Huang, who is also Chairman of National Association ofIndustry and Commerce of Taiwan (CNAICT), indicated that theyare exploring possibility of investments in other sectorsas well, besides motor manufacturing.

"At this moment its difficult to estimate the fund flowsinto Gujarat from Taiwan, but manufacturing facility forseveral products are likely to be set up here," he said.

The CNAICT Chairman yesterday met Gujarat Chief MinisterNarendra Modi and discussed the potential sectors forinvestments like automobiles, hi-tech financial bankingservices and ship building.

A high-powered trade delegation from Taiwan led by itsEconomic minister Christina Liu is scheduled to visit Gujaratfor exploring investment opportunities, a top state officialsaid. (More) PTI VKB PD VKV