Parksons Packaging Ltd of Mumbai is setting up a Rs70 crore plant on a 10 acre plot in Sri City of Nellore to produce and process folding cartons. Company chairman Mr Ramesh Kejriwal held a ground breaking ceremony at Sri City on 10th March. Company joint managing director Chaitanya Kejriwal, director Anjali Kejriwal, senior manager -process engineering, Sachin Shukla and P. Gopalakrishan from marketing were also present.
Parksons is a leading manufacturer and exporter of printed and laminated folding cartons. Its key customers include Mondelez, Kellogs, Colgate, HLL and Godrej, some of whom are located in Sri City itself. Parksons produces about 10 million packs daily from its four plants located in Daman, Chakan (Pune) and Pantnagar (Uttarakhand).
The plant is expected to be ready by October and will employ about 300 people in the initial phase.
Andhra Pradesh chief minister, Mr.Chandrababu Naidu has announced that GVK group which is engaged in hospitality , emergency medical care, life sciences, power , transportation and airports in India and abroad is planning to set up a health care facility at Sri City SEZ.
GVK is planning to invest Rs 500 crores for setting up this facility. It includes a medical college, emergency medical care centre and a research and development facility. It would also mark the entry of the GVK group in to the medical education sector. The agreement between Sri City and GVK is likely to be signed in a couple of weeks.
The chief minister has also inaugurated several facilities at Sri City including one of the largest global facilities of Pepsi and also laid foundation stones for other industrial units – Cipy Pagel, KGI Clothing, Rexam, Vermeiren, Ayurvet, Power Gas, Brindco, Knocept Poly Pro, Be’Rollex, Beva Sillicones, and Godawari Udyog.
AP government has requested the center to set up an airport in the region, as many establishments are coming up in Krishnapatnam area. Airport has become necessary at Krishnapatnam area as many industries are interested to invest after the establishment of the port, thermal plants and automobile units. There are many industries that are coming in and around SriCity .
Energy, infrastructure and investment secretary for AP, Mr. Ajay Jain told that they have placed a request to AAI for an airport, as there are several requests from industrialists and foreign delegates visiting the Krishnapatnam area.
Asian Development Bank (ADB) is a regional development bank headquartered in Phillippines to facilitate economic development of countries in Asia has visited Sri City on Saturday headed by its director Mr.Sekhar Bonu, South Asia Regional Cooperation, as part of their initiatives to study the potential along the Chennai-Visakhapatnam industrial corridor.
Sri City, Managing director Mr.Ravindra Sannareddy said, “Since inception, Sri City has been evoking great interest amongst the international business community, and today it has emerged as a highly recommended investment destination for several internationally reputed brands.”
Andhra Pradesh Industrial Infrastructure Corporation (APIIC) chairman Mr.P.Krishnaiah told that the ADB team had discussed various issues related to the infrastructure development in the region. The partnership between AP government and ADB will boost the economic growth of the state. The team has also tored Chittoor-Nellore districts and discussed on how to develop industries in this region. The entire region from Chittoor-Nellore, is seen to gain from the rapid economic development.
Nittan Valve Co Ltd, the Japanese auto component maker, has inaugurated its Indian subsidiary Nittan India Pvt.Ltd. It has started its first Indian manufacturing facility at Sri City on Wednesday.
Mr. Hisao Takahashi, Nittan Vice President has inaugurated the facility. He told that this facility would enable them to respond better to the order for engine valves from domestic original equipment manufacturers (OEMs).
Mr. Ravindra Sannareddy, Managing Director SriCity has clarified on the proactive industrial policy. He also said that the AP government is planning to promote an investor friendly ecosystem. Government is also planning to develop an Automobile Hub in Nellore-Chittoor region.