A proposal to set up a toys’ manufacturing unit in Kakinada SEZ is among the 10 MoUs signed on the final day of Chief Minister N. Chandrababu Naidu’s six-day tour to China on Friday.
Five of the MoUs were G2B agreements and signed with JA Solar Investment, Lerri Solar Technology Company Ltd, Trina Solar Energy Development, Shanghai New Energy Industry Association and Fosun Industrial Holdings Ltd. While four MoUs related to facilitating direct investments in fields of solar cell and solar module manufacturing and promotion of solar power industry, the fifth one sought to facilitate direct investments in the fields of TMT, insurance, health care and tourism.
Another five B2B MoUs were also inked, which included the proposal to set up a toys manufacturing unit at Kakinada SEZ. The MoU was signed between KSEZ and Hangzhou Huatong Inc. The unit would initially employ 1500 people and is likely to achieve $ 100 million worth of exports in the first year. After 18 months, it plans to employ 5,000 people and increase exports to more than $ 250 million.
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The four other MoUs seek to facilitate direct investments at Brandix India Apparel City.
Earlier Mr. Naidu held a series of meetings with various companies in Shanghai. TCL Corporation expressed interest to explore investment opportunities in AP. TCL corporation is a Chinese multinational electronic company that manufactures television sets, mobile phones, air conditioners, washing machines, refrigerators and small electrical appliances.
Mr. Naidu briefed the delegates on the strengths of the State and his plans to make AP an electronics manufacturing hub.
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He assured that the government would provide all necessary resources like land, water and power required for setting up a manufacturing unit.
Later, the government delegation held a meeting with Trina Solar Company which informed the Chief Minister that they were exploring possibilities of setting up manufacturing unit of solar power panels in the State.
The Chief Minister asked the company to identify a suitable location for the facility. Executives of Nanjing-based construction giant Jiangsu Provincial Construction Company expressed interest to visit the State next month and explore opportunities. Jiangsu Company holds the credit of building the landmark bridge over the river in Shanghai city.
Mr. Naidu told them that it was a historic opportunity for AP to get involved with Jiangsu in construction of the capital city.
“We want to build iconic buildings in Andhra Pradesh and Amaravathi”, Chief Minister added. In another meeting, JA Solar Holdings company Ltd informed Mr. Naidu that they were keen to set solar power plants and plan to establish a 500 MW plant.
The Chief Minister also held a brief meeting with Shanghai Party secretary Han Zheng and discussed various opportunities in Andhra Pradesh.