Andhra Pradesh to Allocate 2,000 More Acre to Sri City

23 Dec 2024 CW Team

Sri City, a thriving integrated business hub located in the Tirupati district, bordering Andhra Pradesh and Tamil Nadu, is poised for significant expansion. The Andhra Pradesh government is taking steps to allocate an additional 2,000 acres of land to this high-potential business city, which has demonstrated remarkable industrial growth since its establishment about 15 years ago.

In 2008, the Andhra Pradesh government had allocated 8,000 acres of land near Satyavedu and Varadaiahpalem mandals in the Tirupati district for the development of Sri City.

Over the past 16 years, Sri City has transformed this underdeveloped region into a global model for industrial development in Asia. Today, Sri City is home to 220 companies from 30 countries, with cumulative exports reaching $4 billion and investments totalling $4.5 billion, reflecting the city’s phenomenal industrial progress in the last decade and a half. Major industries operating in Sri City include Mondelez International, Colgate Palmolive, Alstom Transport, Hero Motocorp, and Apollo Tyres.

Another key aspect of Sri City's success is its local workforce, with 95% of the 62,000 employees working at various industrial units hailing from nearby villages. Considering these achievements, Andhra Pradesh Chief Minister Nara Chandrababu Naidu, during the inauguration of 15 industrial units established with a total investment of Rs 15.70 billion, instructed officials to focus on acquiring additional land, approximately 2,000 acre, for further expansion of Sri City.

The Andhra Pradesh government's decision to allocate this additional 2,000-acre land parcel near Padirikuppam and surrounding areas aligns with the NDA alliance's promise to generate 2 million jobs over the next five years by attracting investments and fostering industrial progress in the state.

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