With three companies already in the process of setting up their plants, enquiries are pouring in looking for space in Andhra Pradesh's greenfield electronics manufacturing cluster which recently received the final approval.
Union ministry of Electronics and Information Technology, in a letter dated August 2, gave its final approval for setting up a greenfield electronics manufacturing cluster spread across 501 acres at a village in Chittoor district at a cost of Rs 340 crore.
On July 31, Additional Secretary of the ministry Ajay Kumar had tweeted, "Approval by @GoI_MeitY for 500 acre Electronic Mfg Cluster to be set up by APIIC in Chitoor, AP. Project Cost Rs 340 cr. @AndhraPradeshCM."
Also Read
The AP government develops its industrial clusters through Andhra Pradesh Industrial Infrastructure Corporation (APIIC), which files applications with the Centre for approval.
Speaking to PTI, APIIC Tirupati Zonal Manager (Chittoor district) I L Ram said, already the zone had received over 35 enquiries from large companies looking for space to set up their plants.
"Three companies are already in the process of setting up the plants and one of them will soon be opening their commercial operations," he said, adding the cluster, like the others in the state, would provide employment opportunities to a large section of the people.
The ministry had given "in-principle" approval for the greenfield cluster early last year and final approval was given based on several parameters including availability of land and formation of SPV (Special Purpose Vehicle).
Disclaimer: No Business Standard Journalist was involved in creation of this content
