According to reports,Titan Wind Energy (Suzhou) Co., Ltd. (szse:002531) announced on December 2 that in order to implement its strategic planning, the company approved Titan Wind Energy (Singapore) Pte. Ltd. to spend USD 11.80 million on setting up a wholly-owned subsidiary in India.
The new subsidiary will be mainly engaged in production and sale of wind tower and components and investment in wind farms.
Titan Wind Energy (Singapore) Pte. Ltd. is a wholly-owned subsidiary approved by the first board meeting of Titan Wind Energy (Suzhou). The subsidiary has a registered capital of SGD 100,000 and total investment stands at USD 12 million.
With a registered capital of CNY 153.75 million, Titan Wind Energy (Suzhou) is a Sino-foreign joint venture focusing on production of megawatt high-power wind towers and associated products. It is one of the largest professional wind tower manufacturers in China now.