Chinese Construction major SGW forays into India through JV with Fortuna Group

Beijing-headquartered Sino Great Wall International Engineering (SGW), the Shenzen-listed international public company for general contracting engineering with market value of $3 billion, has forayed into India through a JV with Bengaluru-based Fortuna Group to develop real estate projects across the country.
SGW Fortuna the joint venture entity has obtained FIPB approval and the JV’s equity split will be 80% SGW and 20% Fortuna. SGW’s initial investment will be $50 million and will bring in similar investment within the next 18-24 months. SGW Fortuna will start its real estate operations in a phased manner.
Chen Lue, SGW Board Chairman, said, “Having emerged as the leading stock of ‘One Belt and One Road’ initiative, SGW is looking at expanding globally. Upon building a presence across the Middle East, Southeast Asia & African countries, we are eyeing India and South America.”
What excites SGW is the mega opportunity across Tier II cities. SGW Fortuna is keen to redraw the Indian real estate landscape through innovative technology, eco-friendly designs/green projects and contemporary project. Neo Chia Wui has been appointed the CEO of SGW Fortuna.