Andhra CM inaugurates projects, inks deals worth Rs 3,683 cr at Sri City

Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday laid foundation, inaugurated and inked deals with multiple companies here worth up to Rs 3,683 crore, which have a potential to generate 15,280 jobs.

Among the inaugurations were 15 industrial projects with a total investment of Rs 1,570 crore to generate 8,480 jobs, followed by foundation for seven projects with an investment of Rs 900 crore and potential to create 2,740 jobs.

The chief minister also inked five deals involving an investment of Rs 1,213 crore with employment scope for 4,060 jobs.

"Today, at Sri City, we paved the way for further industrial development. I inaugurated 15 industrial projects with Rs 1,570 crore investment and laid the foundation for 7 projects worth Rs 900 crore. Additionally, 5 companies signed MoUs (agreements) for Rs 1,213 crore investment today," said Naidu in a post on 'X'.

Later, addressing a roundtable with industrialists, the CM highlighted that he always loves to interact with them as they create jobs and wealth, which eventually generates more revenues for governments to engage in welfare and development.

Encouraging business activities at Sri City, Naidu noted that 220 companies are operating from its premises with representation from 30 countries.

Likewise, he noted that Sri City received investments worth $ 4.6 billion and clocked exports worth $4 billion through companies such as Isuzu, Kobelco, Pepsi, Alstom, Foxconn and others.

Further, Naidu said the southern state will work towards making Sri City as one of the best special economic zones (SEZ) in the world which can be at par with Shenzhen in China or even better than that.

According to the TDP supremo, Andhra Pradesh is focusing on electric vehicles, and hybrid energy model involving solar, wind, pumped energy, battery and thermal sources, adding that the state is also well positioned for green hydrogen.