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Home arrow Business News arrow Andhra CM inaugurates Sri City SEZ accommodating 50 plus companies
Andhra CM inaugurates Sri City SEZ accommodating 50 plus companies Print E-mail
Written by Subash   
Tuesday, 08 November 2011
Hyderabad: Chief Minister of Andhra Pradesh, NallariKiran Kumar Reddy inaugurated Sri City - South India’s largest private sector owned multi-product Special Economic Zone (SEZ) - on the 4th of November 2011 in Tada (55 kms away from Chennai). The ground breaking of 10 units was performed by him. He also dedicated 20 operational units, 13 units under construction and 10 Sri City projects.

"As on date, 20 companies are operational in Sri City, providing employment for over 5000 people and with an investment of Rs.1200 Crore. With the 13 more companies that are under construction, 10 companies that witnessed ground breaking and other companies that have signed agreements, additional investment of Rs. 1300 Crore, employments for more than 6,000 people will be generated. The estimated employment potential in the next 3 years is over 50,000," said Ravindra Sannareddy, MD, Sri City.

"Sri City is already home to 57 leading international and domestic companies. These companies are from 17 countries, across 6 continents, and represent diverse industries like automotive, locomotives, electronics, engineering, pharmaceuticals, warehousing, food processing etc.," he said.

"Eventually, Sri City will lead to the generation of close to 1 lakh jobs, and we continue to take efforts to seamlessly develop and integrate the skill set of the local populace to suit the needs of the industries," he further added.

International and Indian companies such as HunterDouglas, Unicharm, NHK Spring, Aisan, Kusakabe, EagleBurgmann, Tattva Energy and Mohan Mutha witnessed the ground breaking ceremony. The companies are from diverse businesses such as Auto Components, Building materials and Light manufacturing. Premier educational institutions IFMR and CBS were amongst them. Japanese conglomerates such as Kobelco Construction and Kobelco Cranes, Italy’s VRV Group & Lavazza, Thailand’s Rockworth - Al Reyami, US based Control Components Inc. and Bahrain based BFG to name just a few were also dedicated at Sri City today.

"Sri City has a great advantage due to its close proximity to 2 international airports, 3 sea ports, rail and road connectivity. Due to this, Sri City is going to take the best of both the states and grow to a greater extent by providing employment opportunities to over a lakh of people in and around Sri City in the coming years," said the Chief Minister.

"I have great pleasure to state that with Sri City growing in the coming years, many establishments such as Hospitals, Educational institutions, Job opportunities, betterment of living standards, training for industry readiness etc are the benefits the locals in and around Sri City will enjoy. The government will provide all the support for ensuring the upliftment of the region and the state through Special Economic Zones" he said.

The Chief Minister had also released a book on "Sri City - A Social Perspective" highlighting the growth of Sri City and the social empowerment to the villagers in and around Sri City.

Last Updated ( Tuesday, 08 November 2011 )
 
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