Sri City, an integrated business city coming up in Tada, is set to attract investment to the tune of Rs 1300 crore over the next 12 months. The company has signed pact with 23 industries to set up their manufacturing units at the special economic zone, on the Tamil Nadu-Andhra Pradesh border.
Besides, the developer of Sri City is planning to invest around Rs 200 crore to create infrastructure, including a 2-Mw solar plant.
Ravindra Sannareddy, managing director, Sri City, said 20 units were already operational. Together they had seen investment of around Rs 1,200 crore and created employment for around 5,000 people.
“We have signed with another 23 industries, which would bring around Rs 1,300 crore investment and generate employment for 6,000 people,” he said.
Andhra Pradesh chief minister N Kiran Kumar Reddy would unveil the 20 operational units, 12 units under construction, 10 ready for ground breaking and another 10 Sri City projects, including hospital, schools and others, on Friday at Tada.
Sri City, an integrated business city, is one of the largest private sector owned multi-product special economic zone. It is spread over 7,000 acres.
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The company has invested around Rs 600 crore, including in acquisition of land and other infrastructure development. “We will be investing another Rs 200 crore in the next 12 months to create infrastructure.”
The solar power plant would be set up with an investment of around Rs 40 crore. The plant will be developed by Sri Power, a subsidiary of Sri City, said Sannareddy.