2 hrs ago
Naidu witnesses five Kuppam MoUs worth Rs 662 crore
Five companies plan to invest money in new projects in Kuppam.
Together, their proposed investments are worth Rs.
662 crore.
The projects are expected to create many direct and indirect jobs.
Chief Minister N Chandrababu Naidu attended the exchange of the agreements on Monday.
The companies work in areas including chemicals, healthcare, food and dairy.
Naidu also launched a mobile app called Mana Rover.
He said the government wants to support young people working in social media and creative fields.
Possible plans include a Creative City in Amaravati and a YouTube Academy.
The government is also considering a common network for influencers and content creators.
Five companies signed MoUs involving Rs. 662 crore in proposed investments in Kuppam.
The agreements were exchanged in the presence of Chief Minister N Chandrababu Naidu on Monday.
Nootragenic’s Rs. 350 crore project is expected to create 300 direct and 400 indirect jobs.
Pioneer Extracts’ Rs. 67 crore project is expected to create 250 direct and nearly 8,000 indirect jobs.
Naidu launched the Mana Rover app and outlined possible initiatives for the State’s creative economy.
- Who
- Chief Minister N Chandrababu Naidu and five investing companies: Kimberlite Chemicals India Private Limited, Nootragenic Private Limited, Pioneer Extracts Private Limited, Engam Dairy Foods and Plantes Healthcare Private Limited.
- What
- The companies exchanged MoUs covering proposed investments of Rs. 662 crore and expected employment opportunities; Naidu also launched the Mana Rover mobile application.
- Where
- Kuppam; the proposed Creative City would be in Amaravati.
- When
- Monday.
- Why
- To encourage industrial activity, employment and development in Kuppam, while supporting the State’s creative economy.
Key facts
- Total proposed investment
- Rs. 662 crore
- Number of MoUs
- Five
- Largest investment
- Nootragenic Private Limited: Rs. 350 crore
- Kimberlite project
- Rs. 70 crore investment and around 140 direct jobs
- Pioneer Extracts project
- Rs. 67 crore investment, around 250 direct jobs and nearly 8,000 indirect jobs
- Engam Dairy Foods project
- Rs. 150 crore investment, around 500 direct and 900 indirect jobs
- Additional initiatives
- Mana Rover app launched; a Creative City and YouTube Academy were under consideration
Quotes
N Chandrababu Naidu
Chief Minister of Andhra Pradesh
“You do the imagination, I will put it into action. When the two come together, the sky is the limit.”
thehansindia.com
Sources
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