13 firms sign pact with Sri City

- Sri City MD Ravindranath Sannareddy says all companies to invest Rs 600 crore and generate an employment for 2,000 people
- Pats Chandrababu for making AP as a preferred investment destination in South India

Tirupati: At the Confederation of Indian Industry (CII) Partnership Summit being held at Visakhapatnam since Friday, 13 companies signed memoranda of understanding (MOUs) with Sri City, with a commitment of investing Rs 600 crore. The MOUs were signed in the presence of Chief Minister N Chandrababu Naidu. The 13 companies which inked the agreements with Sri City are from different sectors.

They include Windar Renewables, Mahabal Metals and Proto D, MCNS, IRMRA, Blue Star, TCI and Snowman Logistics. Manpasand Beverages, Mabalam Iyers, Sri Lakshmi Agro, Shrisym Technologies and Premium Ingredients, all are from food processing sector, have signed agreements with Sri City.

According to a press release here on Saturday, these companies are expected to create job opportunities for 2,000 people. Only two companies are from abroad and remaining all are from India. They are MCNS is from South Korea and Premium Ingredients is from Spain. Commenting on the signing of MOUs, Sri City founder and managing director Ravindranath Sannareddy has appreciated the Chief Minister for making a strong pitch for investments into the State.

He further said that the Sri City has been emerging as one of the preferred investment destinations in South India. “Sri City is creating jobs for locals and contributing for the growth of the economy in Andhra Pradesh,” he added. Ministers Ganta Srinivasa Rao, Narayana, P Pulla Rao and Paritala Sunitha were also present.