The Amara Raja Group (ARG) and the Government of Andhra Pradesh (GoAP) have recently signed a Memorandum of Understanding (MoU) for direct investment in Andhra Pradesh in the fields of Electronics, Energy storage, Automobile Components, IT & Telecom Components, Food Processing, Infrastructure and Services.

This was announced at the 22nd CII Partnership Summit & 1stSunrise Andhra Pradesh Investment held in Visakhapatnam on 11th Jan 2016. Under the terms of the MoU, ARG and GoAP have committed to an investment of approximately Rs. 5,000 crore, expected to generate approximately 10,000 new jobs over a period of 2-3 years directly, and 20,000 jobs indirectly.

Signing the agreement, Dr. Ramachandra Naidu Galla, Chairman, Amara Raja Group, highlighted the importance of improving infrastructure and accelerating industrial development in Andhra Pradesh, and welcomed mutual cooperation for facilitating investments in Andhra Pradesh.

Also speaking on the occasion, Dr. Ramachandra Naidu Galla, Chairman, Amara Raja Group said, " At Amara Raja we always had the focus on development of the State;this MoU provides us a great opportunity to help create the infrastructure for rapid industrialisation. With the cooperation of the GoAP, we are confident that we will be able to make the state an industrial hub and attract investment from both national and global players."

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