VIJAYAWADA: Andhra Pradesh has been selected as one of the four states in which the Japanese government will team up with the state to develop industrial townships. A Memorandum of Understanding (MoU) in this regard was exchanged between India and Japan in the presence of Prime Minister Narendra Modi and Japan Prime Minister Shinzo Abe at a program held at Ahmedabad on Thursday.
As per the MoU, the 300-acre industrial township will be developed in Sri City of Nellore District. Six months ago, a team of representatives from the Japan had visited Sri City and studied the feasibility of establishing a township there. The Japanese government, which was keen on establishing the township in the coastal region, and finalised Sri City. Minister for Industries N Amaranatha Reddy said that pharma and automobile industries would come up in the industrial township at Sri City. The project will be monitored by the state government, the Centre and Japan.
“The state government will provide enough land for establishing the township and Japanese companies will make the investment. Employment will be generated for thousands in the region once the project materialises,” he said. Reddy said Japanese firms were expressing interest in setting up industries near Krishnapatnam Port. The project is in discussion stage and a decision will be taken after consulting the Chief Minister, he added.