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MoU with Chinese firm tomorrow

The State government will sign a MoU with a Chinese company on August 6 for the establishment of a mobile phone component (camera modules and TFT screens) manufacturing unit in the electronics manufacturing cluster in Tirupati.

In a press release on Saturday, IT Minister N. Lokesh said the Chinese firm would set up its unit in two million square feet space at an estimated cost of Rs. 1,400 crore, and it will create direct employment to 6,000 persons. It would also establish a Centre of Excellence.

Mr. Lokesh claimed that the Chinese company had chosen AP to be its destination amid stiff competition from Noida and Maharashtra, and that it was made possible by the visit of a team of the Department of IT, Electronics and Communications to China twice and negotiations held back home. He said the foray of the company would give a fillip to electronics manufacturing sector in the State.

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