Gold Plus to invest Rs 2,200 cr in AP
Vijayawada: Gold Plus Industries signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) here on Tuesday to start two float glass manufacturing units in Visakhapatnam with an investment of approximately Rs 2,200 crore with an installed production capacity of 7,30,000 metric tonnes a year.
The MoU was signed by J Krishna Kishore, CEO of Andhra Pradesh Economic Development Board (APEDB) and Jimmy Tyagi, ED of Gold Plus Industries in the presence of the Executive VC of APEDB SP Tucker. This unit will also provide direct employment to over 1500 people and indirect employment to over 12,000 people. Gold Plus Glass Industry Limited is one of the fastest growing float glass manufacturing companies in India.
This plant would not only decrease the lead time for supply of glass but will also be more cost effective and thus will contribute for the growth of the State.