Overview
- Andhra Pradesh Chief Minister N. Chandrababu Naidu virtually laid the foundation for three Raymond Group projects totaling Rs 1,201 crore at the CII Partnership Summit in Visakhapatnam.
- The plans comprise a Rs 497 crore silver scrap apparel park at Rapthadu, a Rs 441 crore auto components plant at Gudipalli, and a Rs 262 crore aerospace components unit at Tekulodu.
- The government said the three units are expected to generate about 6,500 direct and indirect jobs, with Naidu reporting Raymond’s assurance of operations by 2027.
- Naidu also inaugurated five industrial units at Sri City and witnessed agreements for 12 additional projects worth about Rs 2,320 crore, with 12,365 jobs projected.
- He announced incentives including escrow-account facilities and a sovereign guarantee for investors, alongside proposals to expand Sri City with additional land and an airstrip.