Andhra allots 6,000 acres of land to expand Sri City as global hub
Andhra Pradesh Chief Minister N Chandrababu Naidu said companies of 50 countries are going to function from Sri City, providing employment opportunities to 150,000 youth
 "Andhra allots 6,000 acres of land to expand Sri City as global hub")
Andhra Pradesh Chief Minister N Chandrababu Naidu on Saturday announced allotment of 6,000 acres of land to develop Sri City as a model international industrial hub.
Participating on the concluding day of the 30th CII partnership summit at Andhra University grounds here, the Chief Minister virtually laid foundations for Raymond projects and inaugurated five projects in Sri City. He also participated in signing MoUs with several companies, which came forward to set up their units in Sri city.
Speaking on the occasion, the Chief Minister said that Andhra Pradesh attracted investments to a tune of Rs 13 trillion in the past two days. He said in 18 months, the state attracted investments to a tune of Rs 22 trillion.
He said companies of 50 countries are going to function from Sri City, providing employment opportunities to 150,000 youth. He said efforts are on to develop an airstrip near Sri City.
He said for the first time in the country, the Andhra Pradesh government announced opening Escrow accounts and providing sovereign guarantee to companies which come forward to invest in Andhra Pradesh. He assured to develop Sri City as the best industrial hub by 2028.
The Chief Minister said that Rayalaseema is marching ahead in industrial growth. He said the Kia company set up a car factory and the state government was determined to develop Done city, Space city, Aerospace, Defence corridors in the region. He said Raymonds company came forward to set up an Auto component manufacturing plant near the Kia factory. The group came forward to set up three companies at a cost of Rs 1,201 crore providing employment opportunities to 6,500 youth.
Thanking Chief Minister Naidu for his cooperation, Raymond company group Chief Executive Officer Goutam Maini expressed happiness over getting permissions quickly in Andhra Pradesh. Hailing the industry-friendly policies, he said that their group came forward to invest in aerospace and defence sectors.
The Raymonds group signed MoUs of three projects with an investment of Rs 1,201 crore, including Silver Spark Apparel park, JK Maini global precision limited, JK Maini Global Aerospace Limited. The Apparel manufacturing unit will come up in Ratadu at a cost of Rs 497 crore, auto component manufacturing unit in Gudipalle, and Aerospace components unit in Tekulodu village. Coming to Sri City, 12 companies signed MoUs with the government to set up companies with an investment of Rs 2,320 crore. The MoUs signed are in the engineering, food processing, and pharma sectors, and would provide employment opportunities to 12,365 youth.
Earlier in the day, Ravindra Sannareddy, founder managing director of Sri City, reflected on Sri City’s transformation into India’s second-largest Japanese Industrial Township, underscoring the strategic rise of its dedicated Japanese Enclave—now home to over 35 enterprises, with investments exceeding Rs 20,000 crore and generating more than 20,000 direct jobs.
He credited this success to Sri City’s purpose-built infrastructure, rapid execution capabilities, and its seamless connectivity with Chennai’s industrial ecosystem. Sannareddy affirmed that Sri City stands as a testament to the power of trust, technology, and execution in building a world-class industrial ecosystem. He emphasised that long-term Japanese investment thrives on reliable governance, robust infrastructure, and a high-quality living environment. He also spotlighted the Japan-India Institute for Manufacturing (JIM) as a vital platform for equipping local youth with skills aligned to Japanese standards of excellence. During the interactive segment, delegates posed questions on governance, workforce preparedness, and future growth.