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Thirteen companies inked memoranda of understanding (MOUs) with Sri City committing total investment of about Rs 600 crore in setting up units in the industrial hub.
The MoUs were inked at the CII Partnership Summit held during January 27-28.
Ravindranath Sannareddy, Founder Managing Director, Sri City in a statement said, “In line with his 'Make in AP' policy, Sri City emerges as one of the most preferred investment destinations, boosting local manufacturing which, in turn, will give a fillip to creation of jobs and get the economy of state and region on a fast track."
"The need of the hour is creating employment in the region. These clients would provide jobs for about 2000 people," he added.
While Manpasand Beverages invests Rs 150 crore, Windar Renewables, a Spanish company, proposes to invest Rs 130 crore.
The 13 companies which inked the agreements with Sri City are from different sectors. They include, Windar Renewables (energy), Mahabal Metals and Proto D (engineering), MCNS (industrial chemicals), IRMRA (R&D), and Blue Star (consumer durables), TCI and Snowman Logistics (Logistics Solutions) and Manpasand Beverages, Mambalam Iyers, Sri Lakshmi Agro, Shrisym Technologies and Premium Ingredients (in food processing sector).
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