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Sri City, located 55 km from Chennai in Chittoor district, has signed MoUs with 11 companies for an investment of Rs 1,200 crore during the CII Partnership Summit which concluded here on Tuesday. Four thousand jobs will be generated, according to a press release.
Colgate -Palmolive is investing Rs 450 crore in a toothbrush unit in Sri City and Thermax plans to invest Rs 200 crore in a boiler and vapour absorption machine unit. Vikram Solar is investing Rs 220 crore in setting up a PV module solar energy unit, and ISUZU Rs 230 crore in setting up a body pressing shop unit.
Sri City, adds the release, is an integrated business city spread over 7,500 acres with a multi-product special economic zone, a domestic tariff zone (DTZ) and free trade warehousing zone (FTWZ) along with residential quarters and other amenities. On the AP-Tami Nadu border, it is well-connected by rail and road networks. It has access to four ports and four airports.
Sri City has at present 108 units set up by companies from 26 countries which are either operational or under construction. These companies have committed an investment of Rs 23,000 crore and promised to give jobs to over 32,000 persons.
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