Andhra Pradesh government on Monday signed a memorandum of understanding (MoU) with electronics giant, Holytech.
Under the terms of the agreement, Holytech will set up its plant in 75 acres land in Tirupati and Chittoor districts, against an investment of Rs. 1400 crores.
With the establishment of the plant, Holytech aims to generate 6000 direct and indirect jobs.
The electronics company manufactures thin film transistors, touch screen modules, flexible printed circuits and fingerprint sensors, the production of which is estimated to begin in the first quarter of 2019.
Andhra Pradesh's IT Minister Nara Lokesh lauded the company for the first-of-its-kind facility in India, at the inaugural event.
The agreement was signed in the presence of Andhra Pradesh Chief Minister Chandrababu Naidu, state electronics department officials and company representatives.
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