Sri City, January 28, 2017:- At the Confederation of Indian Industry (CII) Partnership Summit being held at Visakhapatnam since Friday, thirteen companies signed memoranda of understanding (MOUs) with Sri City, with a total commitment of about Rs.600 crore investment. The MOUs were signed in the August presence of the Honourable Chief Minister of Andhra Pradesh Mr. Nara Chandrababu Naidu.
Commenting on the signing of MOUs, Mr. Ravindranath Sannareddy, Founder Managing Director, Sri City said,”At the outset I admire AP Chief Minister’s for making a strong pitch for investments into the State. In line with his ‘Make in AP’ policy, Sri City emerges as one of the most preferred investment destinations, boosting local manufacturing which, in turn, will give a fillip to creation of jobs and get the economy of state and region on a fast track.”
“The need of the hour is creating employment in the region and we are happy to note that all the new clients would provide jobs for about 2000 people,” he added.
While Manpasand Beverages invests Rs.150 crores, Windar Renewables, a Spain company proposes to invest Rs.130 crores. While MCNS is from South Korea, Premium Ingredients is from Spain, the remaining companies are Indian.
The 13 companies which inked the agreements with Sri City are from different sectors. They include, Windar Renewables (Energy); Mahabal Metals and Proto D (Engineering); MCNS (Industrial Chemicals), IRMRA (R&D), and Blue Star (Consumer durables), TCI and Snowman Logistics (Logistics Solutions); Manpasand Beverages, Mabalam Iyers, Sri Lakshmi Agro, Shrisym Technologies and Premium Ingredients (all in food processing sector); . All put together, these companies are expected to create job opportunities for about 2000 people.