MoU inked with China firm for Rs 500-cr Tirupati unit

Speaking on the occasion, Lokesh explained various steps taken by the State government to develop electronics manufacturing sector in the State.

Published: 05th December 2018 11:27 AM  |   Last Updated: 05th December 2018 11:27 AM   |  A+A-

By Express News Service

VIJAYAWADA: The State government signed a with China-based Sunny Opotech Technology (Group) Company Limited (Sunny Opotech), a leading manufacturer of integrated optical devices and optical imaging system solutions, for setting up a unit in Tirupati with an estimated investment of Rs 500 crore. The unit is expected to generate around 4,000 jobs.

The MoU was exchanged between IT Secretary Vijayanand, Andhra Pradesh Information Technology Academy CEO Bhaskar Reddy with the China-based company delegation Executive Vice President Wang Wenjie, Ningbo (Sunny Opotech) CEO David Wang in the presence of IT Minister Nara Lokesh at the Interim Government Complex in Velagapudi on Tuesday.

Speaking on the occasion, Lokesh explained various steps taken by the State government to develop electronics manufacturing sector in the State. “We are the only State, which introduced unique policies to attract large, medium and small scale manufacturers. Andhra Pradesh has recently been ranked Number 1 in ‘Ease of Doing Business’. Special incentives given by us are a hit with investors. They have shifted their perception of seeing India from a destination of assembling electronics parts to working towards establishing the State as a state-of-the-art hub for  manufacturing industry,” Lokesh said.

Companies such as Foxconn, Celkon, Karbonn and Dixon have already set shop in the State. “Holitech, Flex and Reliance Jio will soon be joining this fast-growing industry. The State’s long-term vision towards which the government is working is to create an electronics manufacturing industry valued at $250 billion by 2024, approximately half of the total $ 500 billion market of India,’’ he said. Sunny Opotech has products ranging from industrial, cell phones, teaching support, life science, non-contact measuring, optical imaging products, automotive opticals among others.

Stay up to date on all the latest Vijayawada news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp