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  1. onlymoney

    86 posts.

    Lautrec,

    You ask if Shanghai Electric have cleaned up their act. It appears not as of four months ago. You do a deal with one company to exclusively manufacture and distribute wind turbines in India. Once they have sunk massive amounts of money into the project, you pull the rug from under them and give the exclusivity to another company. Trustworthy? Do they deserve 30 or 40 million dollars of taxpayer's money?

    April 2013: NEW DELHI:The Madras High Court has passed an interim injunction restraining Shanghai Electric from violating its February 2012 agreement with Chennai-based Vayuvidyut Projects to manufacture wind turbines in India. The order, passed recently, was in response to a petition filed by Vayuvidyut Projects, which alleged that Shanghai Electric terminated its 10-year collaboration agreement abruptly to join hands with Germany's Siemens to manufacture and market wind turbines in India.

    http://articles.economictimes.indiatimes.com/2013-04-25/news/38817147_1_wind-turbines-shanghai-electric-siemens


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