Following its first manufacturing investment project in Vietnam, Midea Group will set up another in Russia and is studying the feasibility of setting up a third overseas manufacturing facility in India, 'China Daily' reported.
Midea is also stepping up feasibility studies of a manufacturing project in India, CEO of Midea's daily electronic appliance division, Zhang Hechuan said.
The group's Vietnam project, with an investment of $25 million, had recently started trial operations.
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The overseas investment projects are also expected to help the firm shun international trade barriers, including anti-dumping moves against products from China.
The appreciation of the Chinese currency makes the investment more cost-effective, Hechuan added.
The company aims to see total sales of $12.33 billion by 2010.
The overseas sales revenue of the company is expected to reach $2.5 billion this year, up 25 per cent year-on-year, the report said.
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