Sri City, the thriving integrated business city, located in Tirupati district, bordering Andhra Pradesh and Tamil Nadu, is set for a mega expansion as the Andhra Pradesh govt is clearing decks to allocate an additional land parcel of 2000 acres to this high potential business city, which has been showcasing phenomenal industrial progress since its inception about a decade and half ago.
Andhra Pradesh govt allocated 8000 acres of land to Sri City near Satyavedu and Varadaiahpalem mandals in Tirupati district at the time of its inception in 2008.
And in the last 16 years, Sri City has transformed this under developed region into a global model for industrial development in Asia.
Today, Sri City houses 220 companies from across 30 countries, with its cumulative exports reaching $4 billion and investments worth $4.5 billion, which is a phenomenal industrial progress this integrated business city has achieved in the last decade and half.
Some of the major industries operating out of Sri City include Mondelez international, Colgate Palmolive, Alstom transport, Hero motocorp, Apollo tyres etc.Another significant aspect which is part of Sri City’s growth story is that out of the 62000 odd people employed at various industrial units here, 95% of the workforce are from the local villages.
Taking all these factors into account, Andhra Pradesh chief minister Nara Chandrababu Naidu, who inaugurated 15 industrial units established with a total investment of Rs1,570 crore, directed officials to focus on acquiring additional lands to the extent of approximately 2000 acres for the expansion of Sri City.
Andhra Pradesh state govt’s move to allocate an additional land parcel of 2000 acres to Sri City near Padirikuppam and surrounding areas is in line with the NDA alliance’s promise of generating 20 lakh jobs in the next five years by attracting investments and ushering in industrial progress in the state.
