BV Naidu to quit Matrix Enport

BV Naidu, vice chairman, Matrix Enport, an infrastructure company promoted by former Matrix Labs founder N Prasad, is set to quit the company.

Matrix Enport is one of the promoters of the $4.5 billion, 26 km-long Vodarevu and Nizampatnam Port & Industrial Corridor in Andhra Pradesh. The other promoters include the government of AP and the UAE’s government of Ras Al Khaimah.

Naidu, who is also the chairman of the India Semiconductor Association, had moved to Matrix from the SemIndia Group, which had been trying to put up a $3 billion semiconductor fab unit at Hyderabad’s FabCity.

Confirming the development, Naidu told DNA he was moving on for personal reasons to set up his own company, to concentrate on the three areas of interest — electronic governance, hi-tech semiconductors and clean energy.

Naidu, a former director of the Software Technology Parks of India, said a few investment proposals were in the pipeline and he would elaborate when they were ready. He said he would formally leave Matrix at December-end.