Andhra Govt to Allocate 2,000 More Acres of Land to Sri City
25 Dec 2024
2 Min Read
CW Team
Sri City, the flourishing integrated business city located on the Andhra Pradesh-Tamil Nadu border in Tirupati district, is set for a major expansion, with the Andhra Pradesh government preparing to allocate an additional 2,000 acres of land to this rapidly developing business hub, which has seen remarkable industrial progress since its inception around 16 years ago.
Initially, the Andhra Pradesh government allocated 8,000 acres of land to Sri City near Satyavedu and Varadaiahpalem mandals in 2008.
Over the past 16 years, Sri City has transformed this underdeveloped region into a global model for industrial growth in Asia.
Currently, Sri City hosts 220 companies from 30 different countries, with cumulative exports reaching $4 billion and investments amounting to $4.5 billion, marking significant industrial progress for the region.
Key industries based in Sri City include Mondelez International, Colgate Palmolive, Alstom Transport, Hero Motocorp, and Apollo Tyres.
A notable aspect of Sri City's development is that 95% of the 62,000 employees working at various industrial units are from local villages.
Taking these factors into account, Andhra Pradesh Chief Minister N. Chandrababu Naidu, who recently inaugurated 15 new industrial units with a total investment of ?1,570 crore, directed officials to secure additional land of around 2,000 acres for Sri City's expansion.
This move by the Andhra Pradesh government aligns with the NDA alliance’s promise to generate 2 million jobs over the next five years through investments and industrial growth.
Sri City, the flourishing integrated business city located on the Andhra Pradesh-Tamil Nadu border in Tirupati district, is set for a major expansion, with the Andhra Pradesh government preparing to allocate an additional 2,000 acres of land to this rapidly developing business hub, which has seen remarkable industrial progress since its inception around 16 years ago.
Initially, the Andhra Pradesh government allocated 8,000 acres of land to Sri City near Satyavedu and Varadaiahpalem mandals in 2008.
Over the past 16 years, Sri City has transformed this underdeveloped region into a global model for industrial growth in Asia.
Currently, Sri City hosts 220 companies from 30 different countries, with cumulative exports reaching $4 billion and investments amounting to $4.5 billion, marking significant industrial progress for the region.
Key industries based in Sri City include Mondelez International, Colgate Palmolive, Alstom Transport, Hero Motocorp, and Apollo Tyres.
A notable aspect of Sri City's development is that 95% of the 62,000 employees working at various industrial units are from local villages.
Taking these factors into account, Andhra Pradesh Chief Minister N. Chandrababu Naidu, who recently inaugurated 15 new industrial units with a total investment of ?1,570 crore, directed officials to secure additional land of around 2,000 acres for Sri City's expansion.
This move by the Andhra Pradesh government aligns with the NDA alliance’s promise to generate 2 million jobs over the next five years through investments and industrial growth.
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