Economy

A fruitful year for Sri City; exports top ₹3,370 cr

V Rishi Kumar Hyderabad | Updated on December 29, 2019 Published on December 29, 2019

Sri City attracted new investments worth ₹2,236 crore in new investments

Sri City, a multi use economic and industrial zone, has registered another fruitful year with its units achieving exports of ₹3,370 crore while attracting new investments worth ₹2236 crore with potential to create 6,700 jobs.

Several other companies in the City have either expanded their facilities or announced move to expand.

According to Ravindra Sannareddy, Founder Managing Director, Sri City, “The year 2019 has been an impressive and started with Thermax inaugurating its unit in January and had a grand finale with Panasonic announcing their entry into Sri City.”

“The support of the State and Central Governments, cooperation of our clients and other stakeholders, and the solid work we put in, have all placed Sri City in good stead. While the manufacturing sector continues to witness slowdown, it is heartening to note that some of our clients are ramping up their units and continuing to invest here in Sri City,” he said.

New investments

During the year, Sri City attracted over 16 new companies with a committed investment of ₹2,236 crore creating employment opportunities for over 6,700 people. Eleven companies have kicked off the construction works of their plants.

Six units went on stream marking their entry into operational phase. In their quest to cash-in on the emerging business opportunities in the country, some of the existing production units, Pals Plush, Vermeiren, IMOP and Kobelco have ramped up facilities and expanded their production capacity.

In January Thermax opened a new manufacturing unit, which has a large portion of ‘industry 4.0’ built into it and using Artificial Intelligence, and utilising a highly digitised and robotised manufacturing process at an initial investment of ₹170 crore.

During the year, some of the units have crossed significant milestones. In January Isuzu India rolled out 10,000th vehicle from its plant, and in August Kobelco Construction Equipment India produced the 10,000th hydraulic excavator at its production facility.

Alstom hit a century by delivering the 100th ‘Make-in- India’ metro train-set in August, marking the completion of the Kochi Metro order for 25 train-sets by the company.

Published on December 29, 2019

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