MUMBAI: ANG Exports Ltd., engaged in auto ancillary business, has entered into a memorandum of understanding (MoU) with Chinese Fuwa Engineering Company Ltd. to set up a joint venture company in India. The JV company will entail an investment of $6 million in the next 12 months and will manufacture trailers, trailer axles and other components, ANG Exports informed the Bombay Stock Exchnage.