Lokesh Secures Rs 15.95 bn Korean Manufacturing Commitment

16 Jul 2026 CW Team

Lokesh led talks with HD Korea Shipbuilding & Offshore Engineering to pitch a greenfield shipbuilding and marine engineering facility, highlighting the State’s 1,053-kilometre (1,053 km) coastline and deep-water ports. State officials were asked to map locations to meet technical requirements and the leadership was invited to meet Chief Minister N. Chandrababu Naidu. The engagement was presented as part of a wider effort to develop maritime manufacturing.

He met Samsung Electronics executive vice-president to press for localisation of AI-server production and an advanced display fabrication plant, citing the State’s 10 gigawatt (10 GW) data-centre pipeline. Lokesh invited Samsung’s research and development division to Amaravati Quantum Valley to collaborate on India’s 133-qubit IBM Quantum System Two project and discussed a dedicated corporate city in the capital region. The discussions aimed to align high-tech manufacturing with the State’s digital infrastructure plans.

Lokesh urged Cuckoo Electronics to set up a manufacturing plant in Sri City or Tirupati to serve South Indian markets and export corridors to South-East Asia and the Middle East. At an industrial roundtable with the Korea Auto Industries Cooperation Agency (KAICA) he outlined investment windows under Andhra Pradesh’s Sustainable Electric Mobility Policy four point zero. The government announced automotive components parks near the Anantapur Kia cluster and along the Sri City-Chittoor-Tirupati corridor with plug-and-play sheds and a Korea Desk.

He discussed EV component expansion with Motivelink and pressed DeltaX on local battery energy storage system manufacturing. He invited Invest Korea to open a sub-national office in Amaravati or Visakhapatnam to lead a trade delegation to the CII Partnership Summit in November 2026.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Andhra Pradesh HRD and IT Minister Nara Lokesh concluded day six of his South Korean investment promotion tour in Seoul and secured a manufacturing commitment from Shinhyup Electronics. The firm will build a facility at Naidupeta in Tirupati district to produce printed circuit boards, copper clad laminates and electronic manufacturing services for the electric vehicle, automotive and healthcare sectors. The project represents a capital outlay of Rs 15.95 billion (Rs 15.95 bn) and will create direct employment for 2,170 personnel. Lokesh led talks with HD Korea Shipbuilding & Offshore Engineering to pitch a greenfield shipbuilding and marine engineering facility, highlighting the State’s 1,053-kilometre (1,053 km) coastline and deep-water ports. State officials were asked to map locations to meet technical requirements and the leadership was invited to meet Chief Minister N. Chandrababu Naidu. The engagement was presented as part of a wider effort to develop maritime manufacturing. He met Samsung Electronics executive vice-president to press for localisation of AI-server production and an advanced display fabrication plant, citing the State’s 10 gigawatt (10 GW) data-centre pipeline. Lokesh invited Samsung’s research and development division to Amaravati Quantum Valley to collaborate on India’s 133-qubit IBM Quantum System Two project and discussed a dedicated corporate city in the capital region. The discussions aimed to align high-tech manufacturing with the State’s digital infrastructure plans. Lokesh urged Cuckoo Electronics to set up a manufacturing plant in Sri City or Tirupati to serve South Indian markets and export corridors to South-East Asia and the Middle East. At an industrial roundtable with the Korea Auto Industries Cooperation Agency (KAICA) he outlined investment windows under Andhra Pradesh’s Sustainable Electric Mobility Policy four point zero. The government announced automotive components parks near the Anantapur Kia cluster and along the Sri City-Chittoor-Tirupati corridor with plug-and-play sheds and a Korea Desk. He discussed EV component expansion with Motivelink and pressed DeltaX on local battery energy storage system manufacturing. He invited Invest Korea to open a sub-national office in Amaravati or Visakhapatnam to lead a trade delegation to the CII Partnership Summit in November 2026.

Real Estate

16 Jul 2026

VeARC leases 27,000 sq ft office space in Bengaluru

VeARC India has leased approximately 27,000 sq ft of office space at The Executive Centre's (TEC) Helios Business Park on Outer Ring Road (ORR), Bengaluru, to support the expansion of its Global Capability Centre (GCC) operations.The new workspace accommodates more than 450 workstations and is intended to support the company's growing workforce in India. VeARC India serves as the Global Capability Centre for Long Arc Capital.Located on Bengaluru's Outer Ring Road, the office provides access to one of the city's key technology and business corridors. The expansion comes amid continued growth in..

Real Estate

16 Jul 2026

Bharat Shah Family Buys Four Luxury Apartments In Worli For Rs1.8 bn

The family of veteran investor Bharat Shah has acquired four ultra-luxury apartments on the higher floors of Kalpataru One in Worli, South Mumbai, for Rs1.8 billion (bn). The purchases were registered on 6 July 2026 and were executed through Preeti Bharat Shah and Kinnari Bharat Shah, who bought the flats from Kalpataru Properties Limited. Property registration documents reviewed by Zapkey show the total consideration at Rs1.7941 billion. The transactions recorded a per square foot RERA carpet price of Rs0.101 million (mn), with each apartment valued at about Rs448.5 million. The four residenc..

Infrastructure Urban

16 Jul 2026

NITI Aayog Consultation On Critical Mineral Supply Chains

NITI Aayog convened a stakeholder consultation in New Delhi on Wednesday to assess requirements for critical minerals across strategic sectors, bringing together experts from government, research institutions, academia and industry. The meeting aimed to estimate current and future demand, identify supply chain vulnerabilities and discuss measures to strengthen domestic capabilities in exploration, processing and recycling. The exercise formed part of broader efforts to secure mineral value chains essential for economic growth, technological advancement and national security.\n\nDiscussions con..