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Amara Raja Group, a diversified business conglomerate, today announced its plans to develop Amara Raja Digital World City (ARDWC) as a manufacturing hub for electronics units in Chittoor district of Andhra Pradesh.
The company has acquired 500 acres from the Andhra Pradesh Government and has enlisted the services of a global consultant to draw up a plan of action. Its execution could also mean roping in a strategic partner for implementation of the project, Dr Ramachandra N. Galla, Chairman of Amara Raja group, said.
The announcement of the new project coincided with the 25-year celebrations of the Rs 2,500-crore Amara Raja Group. The company unveiled a new logo reflecting diverse elements of nature with each colour standing for their focus and resolve to take the group to revenues of $ 2 billion (Rs 9,000 crore) by 2015.
Addressing a media conference, Dr Ramachandra Galla said that a detailed plan of the digital city will be unveiled within three months, including the investments that would go into the project to be developed by a group company Amara Raja Infra. The city will have an anchor investment by Amara Raja Electronics and Mangal Precision Products, the latter will manufacture auto electrical components.
The group has a clutch of seven companies, notable among them are publicly traded Amara Raja Batteries and other firms including Galla Foods, Amara Raja Power Systems Ltd, Mangal Precision Products Ltd., Amara Raja Infra and Amara Raja Industrial Services.
Growth Plan
The Managing Director of Amara Raja Batteries Ltd, Mr Jayadev Galla, said “the group has drawn a comprehensive plan to make it a $2-billion group by 2015. Of this, ARBL will contribute about a $1 billion in total revenues. This growth will be organic. However, we are open to acquisition of good companies in different segments.”
“We have strong relationships with automotive manufacturers and telecom companies in India. Most of the automotive companies continue to register robust growth and also expected to play a larger role in tapping markets globally. As they expand their reach we will follow them with our products. Likewise, we have strong partnerships with telecom companies, including Airtel, with whom we expect to grow,” he said.
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