Tirupati EMC to get `10,072 cr investments

Tirupati: At the Global Investors Summit-2023 held in Visakhapatnam, Tirupati attracted more than Rs 10,000 crore investments. Several industrialists and entrepreneurs took part in the two-day summit and signed MoUs relating to their investments in the State. As part of this, some of them felt the Electronic Manufacturing Cluster (EMC) in Tirupati is having a congenial atmosphere to set up industries.

EMC CEO M Gauthami said that this EMC region is well connected to road, rail and air apart from several universities to provide good human resources. The state government has been extending all help to the industrialists and providing all permissions through a single desk portal. In view of all these advantages, eight major companies have come forward at the Summit to enter into agreements to invest Rs 10,072 crores in the limits of Tirupati EMC cluster. This will provide employment opportunities to 29,000 unemployed youth.

Sunny Opotech India Pvt Ltd came forward to invest Rs 2,500 crores to produce mobile camera modules which can provide employment to 10,000 youth. TCL group panel manufacturing to invest Rs 5,000 crore and will employ 5,000 youth, Clair electronics to invest Rs 90 crore to set up LED manufacturing unit and provide job opportunities to 3,000 people while Celkon Resolute LLP to invest Rs 1200 cr for its Panels and TV manufacturing unit and to create 5,500 jobs.

Neolync Group which produces 5G products, wants to invest Rs 300 crore thereby providing jobs to 3,000 people, Blue Star AC manufacturer to invest Rs 550 crore at Sri City and create job opportunities to 1,000 youth and Daikin AC manufacturer wants to set up an unit with Rs 2,600 crore in Sri City which can offer employment to 5,000 youth. EPack group also will invest Rs 305 crore for its AC components manufacturing unit at Sri City with jobs to 1,560 people.

The MoUs were exchanged at the summit on Friday in the presence of Chief Minister YS Jagan Mohan Reddy, Ministers, IT secretary Sourabh Gour and EMC CEO M Gauthami. The CEO said that it is a great step forward and called upon other industrialists to come forward and invest in Tirupati EMC.