Xugong goes with the wind

Xuzhou Construction Machinery Group (XCMG), the country's largest manufacturer of heavy construction machinery, plans to make an initial investment of 500 million yuan to diversify into wind turbine production at a time when crude oil price is going through the roof.

Wang Min, president of the Jiangsu-based company, said revenue from this new line of business will amount to about 10 billion yuan a year in three to five years. He declined to elaborate on the investment, saying the company was yet to make a final decision on the project.