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Electronic Manufacturing Gets New Boost in Andhra Pradesh, Reliance to Invest Rs. 15,000cr

Reliance to Invest Rs 15,000 crore in an electronics manufacturing plant near Tirupati, Andhra Pradesh

Boost in Andhra Pradesh

Giving a new technological and investment boost to the state, Andhra Pradesh is now befitting to become an electronic manufacturing crony zone for investors.

Expanding perennially, Reliance industries lately have signed two new agreements with the Andhra Pradesh State Government promising a total investment of Rs 52,000 crore in oil and gas and electronics sectors.

The Memorandum of Understandings (MoU) was a fresh follow-up action to the meeting Reliance Industries Chairman Mukesh Ambani had with Chief Minister N Chandrababu Naidu in Amaravati on early this month.

Reliance will invest about $6 billion (about Rs 37,000 crore) in an oil and gas venture in AP and another Rs 15,000 crore in an electronics manufacturing plant near Tirupati. These ventures are expected to create 25,000 jobs over the next few years, the Chief Minister announced.

The MoUs were signed by Reliance president Kiran Thomas and AP governments Principal Secretaries Ajay Jain and K Vijayanand in the presence of Chandrababu Naidu on the second day of the Partnership Summit here.

Reliance, in association with BP International, plans to develop offshore gas infrastructure in the Krishna-Godavari Basin in East Godavari district. No more details of the proposed projects have been officially announced.

Reliance is already into gas exploration from its D6 block in the KG Basin near Kakinada.

Reliance Jio, on the other hand, will establish an electronics manufacturing park near Tirupati in Chittoor district to manufacture mobile phones and set-top boxes. The Indian industry major will set up the facility on a 150-acre site, a senior official said.

As a pre-condition to setting up the electronics manufacturing park, Mukesh Ambani, during his meeting with the Chief Minister, wanted the state government to promote clusters of educational institutions like ITIs and diploma colleges in the vicinity to create employment right after education, another senior official said. He also asked the government to develop a workmen housing corridor in the vicinity of Tirupati Growth Corridor.

The state government is yet to respond to Ambani’s requests, the official maintained.

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Niloy Banerjee

A generic movie-buff, passionate and professional with print journalism, serving editorial verticals on Technical and B2B segments, crude rover and writer on business happenings, spare time playing physical and digital forms of games; a love with philosophy is perennial as trying to archive pebbles from the ocean of literature. Lastly, a connoisseur in making and eating palatable cuisines.

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