''We shall be setting up a large electric motor manufacturing facility in Gujarat. Motor manufacturing is just one thing, we are thinking of many other businesses here,'' TECO Group chairman Theodre M H Huang told PTI in Ahmedabad. However, he refused to divulge the proposed investment on the plant.
''The manufacturing plant is expected to come up in Savli industrial estate, near Vadodara,'' a top state official said.
Huang, who is also Chairman of National Association of Industry and Commerce of Taiwan (NAICT), indicated that the group is exploring the possibility of investment in other sectors as well.
''At this moment, it's difficult to estimate the fund flows into Gujarat from Taiwan, but manufacturing facilities for several products are likely to be set up here,'' he said.
Huang met Gujarat chief minister Narendra Modi on Sunday and discussed potential sectors for investment, like automobiles, hi-tech financial banking services, and ship building.
A trade delegation from Taiwan led by economic minister Christina Liu is scheduled to visit Gujarat for exploring investment opportunities, a top state official said.