Thirteen companies inked memoranda of understanding (MoUs) with Sri City committing total investments of about ₹600 crore to set up units in the industrial hub.

The companies which inked the agreements with Sri City are from different sectors. They include Windar Renewables (energy), Mahabal Metals and Proto D (engineering), MCNS (industrial chemicals), IRMRA (R&D), and Blue Star (consumer durables), TCI and Snowman Logistics (Logistics Solutions) and Manpasand Beverages, Mabalam Iyers, Sri Lakshmi Agro, Shrisym Technologies and Premium Ingredients (in food processing sector).

The MoUs were inked at the CII partnership Summit held during January 27-28.

Ravindranath Sannareddy, Founder Managing Director, Sri City, in a statement said: “In line with his 'Make in AP' policy, Sri City emerges as one of the most preferred investment destinations, boosting local manufacturing which, in turn, will give a fillip to creation of jobs and get the economy of state and region on a fast track."

“The need of the hour is creating employment in the region. These clients would provide jobs for about 2,000 people," he added.

While Manpasand Beverages invests ₹150 crore, Windar Renewables, a Spanish company, proposes to invest ₹130 crore.