New MoU likely to be signed in Electronics sector today

Amaravati: The IT and Electronics department is going have a Memorandum of Understanding with one of the world’s biggest electronics manufacturing services company, on Tuesday.

Though the officials did not confirm the name of the company, the sources informed that this may be the American based multinational technological manufacturer Flextronics International Ltd.

The estimated investment of the company will be more than Rs 585 crore. It will generate about 6,600 direct employment in the electronics sector. This company has its units in around 30 countries.

The delegates are scheduled to meet with Chief Minister Nara Chandrababu Naidu and Minister for IT and Electronics Nara Lokesh on Tuesday at the Secretariat. After having final discussions on it, they may enter into the MoU.

Lokesh has been encouraging the electronics companies in the state in manufacturing sector to reach the target of ensuring 2 lakh jobs in this sector by 2019.