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Tirupati: 2021, an eventful year for Sri City
Korean Consul General visits Sri City (file photo)
14 MoUs were signed with a committed investment of over Rs 3,700 cr and with a scope to provide employment to about 8,500 people
Tirupati: Sri City has had much to celebrate in 2021. The year has been a year of recovery from the vagaries of the Covid-19 pandemic that had ravaged the world. Sri City resolutely executed astute measures to curb the spread of the disease and has been stringently executing the protocols laid down by the authorities to stem the spread of the virus.
Sharing his thoughts on the performance of Sri City with an emphasis on the business perspective, its founder Managing Director Ravindra Sannareddy said that they have been successful in converting leads that were in the pipeline into fructified projects.
Following the resumption of travels, they had a number of investors from abroad to assess the business potential and explore opportunities in the Industrial Park.
During the year, 14 MoUs were signed with a committed investment of over Rs 3,700 crore with a scope to offer employment close to 8,500 people.
Five new companies have kick-started construction of their plants, while three units went on stream marking the entry into the operational phase.
Besides, a number of the existing units ramped up their production capacities seeing the business opportunities that the country presents. The cumulative value of exports during Jan-Dec 2021 was Rs 850 crore and the total value of exports over the years is around Rs 15,000 crore.
It also won several accolades in the year. It was rated among the 'Leaders' by the Department for Promotion of Industry and Internal Trade (DPIIT). It also won the 'Developers Special Achievement Award' for 2020-2021 from the Export Promotion Council for EOUs and SEZs (EPCES). The CII presented twin awards for Water Management and Rain Water Harvesting. Also, it bagged the Asian CFO Leadership Award - CFO of the year and Institute of Cost Accountants of India's (ICAI) 'Best CMA CFO Award' among various other awards and recognitions.
As part of corporate social responsibility, Sri City donated medical equipment worth over Rs 1 crore to various primary health centres that lacked infrastructure in the neighbouring mandals. For augmenting the oxygen storage infrastructure Sri City rushed 'Made in Sri City' Medical oxygen tanks to the Government General Hospitals in Tirupati, helping fight the Covid-19 pandemic.
A number of industrial units have donated classrooms, furniture and built toilets to strengthen the infrastructure in government schools in the vicinity of Sri City.
