Andhra signs MoU with Chinese firms for industrial park
Hyderabad, June 28 (IANS) An international industrial park will come up in Andhra Pradesh, which is expected to attract investment of $6.4 billion.
An MoU in this regard was signed by the state government on Monday with China Association of Small and Medium Enterprises and China Small and Medium Investment Group Limited, Beijing during the current visit by 13-member delegation led by Chief Minister N. Chandrababu Naidu to China.
The project to come at Donakonda in Prakasam district will comprise a Building Materials Industrial Park and Modern Building Materials Logistics Park.
The industrial park, the first of its kind in India, will give a major boost to make in Andhra Pradesh, said a statement from the chief minister’s office.
The Building Material Industrial park will come up in an area of 20 square km with an investment of $0.9 billion and will manufacture all categories of building materials and low- carbon energy-saving new materials.
This park will provide direct employment to 10,000 people.
The Modern Building Materials Logistics Park will also be set up in 20 square km with an investment of $5.5 billion and will take care of the distribution and be a logistics centre of all categories of building materials. As many as 35,000 people will be directly employed.
The proposed total investment is $6.4 billion and the facility will be completed in three phases.
The park will attract manufacturing industries and logistics companies from China and other countries to invest and set up units. The products manufactured will be supplied to local markets, other areas of India and the export market.
The park will manufacture structured materials like wood, bamboos, stones, cement, concrete, metals, bricks, tiles, ceramics, glass, engineering plastics and composite materials etc.
Decoration materials like coatings, paint, cladding materials, veneering, ceramic tiles in all colors and glass with special effects etc will also be manufactured.