Naidu said the southern state will work to make Sri City one of the best special economic zones. | Photo: PTI
Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday laid the foundation, inaugurated and signed agreements with various companies here worth up to Rs 3,683 crore, which have the potential to generate 15,280 jobs.
Among the inaugurations were 15 industrial projects with a total investment of Rs 1,570 crore to generate 8,480 jobs, followed by the establishment of seven projects with an investment of Rs 900 crore and potential to create 2,740 jobs.
The Prime Minister also signed five agreements involving an investment of Rs 1,213 crore with scope of employment for 4,060 jobs.
“Today in Sri City, we paved the way for further industrial development. I inaugurated 15 industrial projects with an investment of Rs 1,570 crore and laid the foundation for 7 projects worth Rs 900 crore. Also, 5 companies signed MoUs (agreements) today for an investment of Rs 1,213 crore,” Naidu said in a post on ‘X’.
Later, addressing a panel discussion with industrialists, the CM stressed that he always loves to interact with them because they create jobs and wealth, which in the long run generates more revenue for governments to engage in welfare and development.
Promoting business activities in Sri City, Naidu said that 220 companies operate from its premises with representation from 30 countries.
He also noted that Sri City received investments worth USD 4.6 billion and recorded exports worth USD 4 billion through companies such as Isuzu, Kobelco, Pepsi, Alstom, Foxconn and others.
Naidu further said that the southern state will work towards making Sri City one of the best special economic zones (SEZs) in the world that can be at par with Shenzhen in China or even better than that.
According to the TDP supremo, Andhra Pradesh is focusing on electric vehicles and a hybrid power model involving solar, wind, pumped power, batteries and thermal sources, adding that the state is also well positioned for green hydrogen.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 19, 2024 | 11:22 PM IS
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