National

AP CM inaugurates new units in Sri City

V. Rishi Kumar Sri City | Updated on March 12, 2018 Published on November 20, 2013

(From left): Andhra Pradesh Chief Minister, N. Kiran Kumar Reddy, Principal Secretary (Industries), Pradeep Chandra , and MD of Sri City, Ravindra Sanareddy, at the inauguration of new units in Sri City on Wednesday. Photo: P.V. Sivakumar   -  P.V.SIVAKUMAR;BUSINESS LINE

Cadbury's, Pepsi among those to set up units

Integrated industrial hub of Sri City, located about 60 km from Chennai, has attracted more than 100 companies with an investment potential of Rs 12,500 crore. Forty three of them were added in the past two years.

The industrial-cum-manufacturing hub with a special economic zone, located in Nellore district of Andhra Pradesh, has some of the major companies such as Cadbury’s and Pepsi lining up to setting up their manufacturing units.

This was disclosed during a visit to the Sri City, where Andhra Pradesh Chief Minister N. Kiran Kumar Reddy today inaugurated 13 operational manufacturing units.

These units entail an investment outlay of Rs 1,200 crore having employment potential for 3,200 people.

The Chief Minister assured all support to industrial units to ensure growth of the industrial sector. He said that the power situation in the State has improved and will get better by summer next year.

Three other major units of Cadbury's, Isuzu and Pepsi are to be inaugurated within a couple of months. They entail a total outlay of about Rs 5,500 crore and employment of about 3,250 people.

During his visit, the Chief Minister visited the manufacturing units of transport major Alstom, Italian company Danieli engaged in plant and equipment for steel industry, among other units.

Ten more units are ready for ground-breaking. They entail an investment of Rs 1,000 crore. The manufacturing hub is expected to see new investments worth over Rs 12,500 crore with a potential to create over 20,000 jobs.

Ravi Sannareddy, Managing Director of Sri City, said that the facility managed to attract major players in spite of tough business and economic environment. He called upon the units to ensure employment to local youth.

The ground-breaking ceremony is for MMD, a UK-based equipment maker, US-based toy company KM Toys, Techpro Systems, among others.

During the day, a section of landowners and farmers who had parted with their land wanted the companies based in Sri City to provide employment to the members of the family. The agitating people were pacified and assured necessary jobs.

The Chief Minister said that the State managed to attract investments in spite of turbulent times.

In the last three years, it has had 73 mega projects with an investment potential of Rs 1,35,000 crore. The State Investment Promotion Board had cleared these proposals, he said.

He said the foundation stone for a major port at Duggarajapatnam in Andhra Pradesh will be laid soon. This is likely to get funding from Centre and JICA, he said.

[email protected]

Published on November 20, 2013
null
This article is closed for comments.
Please Email the Editor