Andhra Pradesh Chief Minister N. Chandrababu Naidu on Saturday announced several major industrial initiatives on the final day of the 30th Confederation of Indian Industry (CII) Partnership Summit held in Visakhapatnam.
He also virtually laid the foundation stone for three Raymond Group projects worth Rs 1,201 crore.
"Chief Minister Chandrababu Naidu virtually laid the foundation for Raymond Group projects," said an official press release.
Speaking soon after the summit’s inauguration, the Chief Minister revealed plans for three significant manufacturing projects in the Anantapur region.
Raymond Group is setting up the silver scrap apparel manufacturing park at Rapthadu in Anantapur district at an outlay of Rs 497 crore.
It is also setting up a Rs 441-crore auto components manufacturing plant at Gudipalli in Anantapur district and a Rs 262-crore aerospace components manufacturing unit at Tekulodu in the same Rayalaseema district. Through these three projects, the Raymond Group is expected to generate 6,500 direct and indirect jobs, the press release said.
Naidu stated that Raymond has assured the state government that all three projects will become operational by 2027. On the state’s progress, he said, "In just 18 months of coming to power, we have attracted Rs 20 lakh crore in investments. We aim to create 20 lakh jobs within the next three to four years."
On the Andhra Pradesh’s broader vision, the Chief Minister mentioned that foundation stones had already been laid for Space City and Drone Cities in Rayalaseema, reinforcing the region’s emerging status as a hub for high-technology manufacturing.
Referring to the presence of Kia Motors and upcoming Aerospace and Defence corridors, he added, "With the growing demand for aircraft, their production must also increase. It is commendable that Raymond is contributing to the nation’s aerospace and defence manufacturing needs."
Earlier, CM had said the state needs more and more players in the food processing sector. "Lot of opportunities. You have resources, technology and knowhow. Come and join us in building," Naidu said, adding that the state is strong in agriculture, horticulture, dairy, coffee, spices and a plethora of other sectors.
Promising best incentives and policies, Naidu said he will extend escrow account facility and 'sovereign guarantee' to investors.
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