The company has signed an MoU with the Andhra Pradesh government on Monday during the 22nd CII Partnership Summit and first Sunrise Andhra Pradesh Investment Summit being held in Andhra Pradesh, Amara Raja Group (ARG) said in a statement.
Amara Raja Group has committed an investment of Rs 5,000 crore in Andhra Pradesh across business verticals such as electronics, auto, IT, energy and infrastructure.
The company has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government on Monday during the 22nd Confederation of India Industry (CII) Partnership Summit and first Sunrise Andhra Pradesh Investment Summit being held in Andhra Pradesh, Amara Raja Group (ARG) said in a statement.
"Under the terms of the MoU, ARG and Government of Andhra Pradesh (GoAP) have committed to an investment of approximately Rs 5,000 crore, which is expected to generate approximately 10,000 new jobs over a period of two-three years directly, and 20,000 jobs indirectly," the ARG said.
Signing the agreement, 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 the state.
Speaking on the occasion, Galla, said, "At Amara Raja we always had the focus on the 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."
Jayadev Galla, Vice Chairman of Amara Raja Group said, "This effort is a very important collaborative effort by industry and government which paves for all round industrial development and employment opportunities for the people of the state."
Under the MoU, the state government will facilitate necessary assistance for Amara Raja Group for the company's increased participation in significant projects in sectors like telecom, auto, IT, energy, food processing, services, among others in Andhra Pradesh, wherever feasible, it said.
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