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Early this year, the Chinese Consul General of Mumbai Zhen Xiyuan has met with Jushi Group Vice President Cao Guorong and the delegates.
Cao Guorong‘s India visit mainly for the inspection tour on their plan in the establishment of Jushi factory in India. According to report, JUSHI Group has established a sales company in India as early as 2007. Last year, Jushi Group has raised over 5 billion Yuan (US$ 747.38 million) for its globalization strategy in the 13th five years plan (2016 to 2020).
Mr. Cao Guorong has introduced Jushi Group basic situation and their strategic development plan to establish a factory in India. Mr. Cao Guorong has also informed the India inspection result to Consul General Zhen Xiyuan and hope the Chinese consular office can give guidance and support in order for Jushi Group India factory to be constructed and completed as soon as possible in order to meet the demand from the local growing economy.
Chinese Consul General Zhen introduced the India most up to date politic and economic situation and pointed out that India government drive to develop the economy and advocate of the India made policy. The glass fiber industry has wide downstream industrial chain and there is wide market growing space.
Last month (June 2016), Jushi has invested 300 million US$ in the USA to establish its first factory in that country with a production capacity of 80,000 ton glass fiber, in which there will be 400 jobs generated for the local economy.
Vice President Cao Guorong pointed that the initiative investigation and research for a company to invest in a foreign country is of crucial importance. Jushi will actively communicate with the India local relative government departments to obtain the preferential policy and conditions.
Both parties also pointed out that there are land issues, energy supply issues, electricity supply issues that may hinder the investment progress. The Chinese consular general office will provide active and in-time support to assist Jushi to achieve their goal.
Jushi Group is a fiberglass manufacturer and has attained the leadership position in the global fiberglass industry in terms of output, technology, market and profit. The Group is a China National Key High Technology Enterprise, a National Innovative Pilot Enterprises, a China Top 500 Most Competitive Large Business Group and a Backbone Enterprise and a Green Plant of Zhejiang Province. The company has a National-Level Enterprise Technology Center and operates a distinguished Post-Doctoral program.