Rs 1000 crore Toray Industries inaugurated in Sri City

Thanking the Toray management for preferring AP to set up the unit, he assured to extend all support from the government.

Published: 15th February 2020 08:58 AM  |   Last Updated: 15th February 2020 08:58 AM   |  A+A-

Industries Minister Mekapati Goutham Reddy inaugurates Toray Industries (India) Private Limited at Sri City on Friday I express

By Express News Service

VIJAYAWADA: Industries, Commerce, IT, Skill Development and Training Minister Mekapati Goutham Reddy inaugurated Toray Industries (India) Private Limited, the Indian subsidiary of Japanese major Toray Industries Inc, at Sri City near Tirupati on Friday.

Speaking on the occasion, the minister said that the establishment of the industry with an investment of Rs 1,000 crore was an indication of the stability of the industries sector in the State. Thanking the Toray management for preferring AP to set up the unit, he assured to extend all support from the government.

“Because of ease of business in the State and the investor-friendly industrial policy being implemented by the State government, several Japanese companies are preferring AP in general and Sri City in particular as their second home,” he said.

He said that a special desk for expediting clearances would be introduced for Japanese investors. He appreciated the Sri City management for undertaking the task of training local people from agrarian background, and transforming them as blue-collar workforce. “Their vision in this direction ushered in economic development in the region and minimised migrations in search of livelihood,’’ the minister added.

Responding to the request of Sri City managing director Ravindra Sannareddy for announcing the new industrial policy from Sri City, the minister said he will take the request to the notice of the Chief Minister for consideration. Thanking the minister for visiting Sri City,  Sannareddy congratulated the Chief Minister and Industries Minister for going ahead with the slogan of ‘Let’s grow together’ in industrial development.

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