Industries and Commerce Minister T.G. Bharath Gupta announced on Tuesday that Shree Cement Limited has come forward to expand its investments in Andhra Pradesh.
Representatives of the company met the Minister in Visakhapatnam and discussed plans to expand their investments in the State. The company representatives informed the Minister that they plan to invest ₹6,700 crore, to expand operations, according to an official release.
The Minister said that the company is particularly keen on investing in the Kadapa, Palnadu, and Anakapalli districts. He stated that if these investments materialise, they could create employment and livelihood opportunities for approximately 3,000 people. He emphasised that the government attaches high priority to industrial development and job creation in the state.
Mr. Bharath added that several prominent companies were showing interest in investing in Andhra Pradesh under the leadership of Chief Minister N. Chandrababu Naidu. He affirmed that the government is providing necessary support for setting up industries while fostering an investor-friendly environment.
Mr Bharath stated that the proposed investments by Shree Cement would foster industrial development in the State and create large-scale employment opportunities.
Vice-chairman Prashanth Babu and president (Corporate Affairs) Gaurav Jain met the Minister.
