AP to Transform Sri City into Global Industrial Hub

Andhra Pradesh is set to transform Sri City into a major international industrial hub, with Chief Minister N. Chandrababu Naidu announcing the allocation of 6,000 acres for the project on Saturday. Speaking at the 30th CII Partnership Summit, he virtually laid the foundation for Raymond projects, inaugurated five new initiatives, and oversaw multiple MoU signings with companies planning operations in the hub.

Highlighting the state’s investment momentum, Naidu said Andhra Pradesh attracted Rs 13 lakh crore over the past two days, taking total investments to Rs 22 lakh crore in just 18 months. Companies from 50 countries are expected to operate from Sri City, generating employment for 1.5 lakh youth. Plans are also underway to construct an airstrip to support industrial growth.

Naidu emphasized that Andhra Pradesh is the first state in India to offer Escrow accounts and sovereign guarantees to investors, underlining his commitment to making Sri City the state’s premier industrial hub by 2028.

Rayalaseema is also witnessing rapid industrial expansion, with Kia establishing a car manufacturing plant. The government is developing Done City, Space City, and Aerospace & Defence corridors. Raymonds has committed Rs 1,201 crore for three projects, including an auto components plant that will create 6,500 jobs.

Raymond Group CEO Goutam Maini praised the ease of approvals and outlined plans for further investments in aerospace and defence. Key projects include Silver Spark Apparel Park in Ratadu (Rs 497 crore), JK Maini Global Precision Limited in Gudipalle, and JK Maini Global Aerospace Limited in Tekulodu.

Additionally, 12 companies signed MoUs to invest Rs 2,320 crore across engineering, food processing, and pharmaceutical sectors, creating 12,365 new jobs.