VIJAYAWADA: Aria Global, a Singapore and Spain-based company, has proposed to set up a biosynthetic wood manufacturing unit and a hydrofoil boat production facility in Andhra Pradesh, with an estimated investment of Rs 300 crore.
On Thursday, Aria Global’s executive director, Sampath Kumar, met Minister for Roads & Buildings, Infrastructure & Investments BC Janardhan Reddy, at the State Secretariat. During the meeting, Kumar expressed the company’s keen interest in setting up these two ventures in the State.
Kumar explained that the firm produces biosynthetic wood from plastic waste, a process that has been successfully implemented in several locations. He highlighted that the biosynthetic wood closely resembles natural wood in appearance and offers environmental benefits. By utilising this material, the company aims to reduce deforestation and lower costs across various sectors.
In addition to the wood manufacturing unit, Aria Global is also engaged in the production of hydrofoil boats using advanced technology. Kumar informed the Minister that the company has held successful discussions with the Indian Navy regarding the supply of these boats, and a final decision is currently under consideration by senior Navy officials. He emphasised that hydrofoil boats, which are faster and safer than conventional vessels, would be particularly useful for coastal patrolling, making Andhra Pradesh an ideal location for their production.
Kumar assured Janardhan Reddy that Aria Global is prepared to invest Rs 300 crore in these projects, contingent on receiving the necessary support from the State government. He also presented detailed proposals outlining the firm’s plans.
Minister Janardhan Reddy assured the executive director that the proposals would be brought to the attention of Chief Minister N Chandrababu Naidu, and he promised full cooperation from the government to facilitate these investments.
Hydrofoil boat making unit
Aria ED expressed interest in setting up two industrial units in the State. One of them is a production unit of hydrofoil boats. These boats are faster and safer than conventional vessels, particularly useful for coastal patrolling, making Andhra Pradesh an ideal location for their production, ED Sampath said