Andhra Pradesh Boosts Industrial Growth with Landmark Taiwanese Investments

Andhra Pradesh Chief Minister N Chandrababu Naidu announced agreements involving Rs 18,400 crore with Taiwanese firms. The deals include eJoule India's establishment of a significant manufacturing facility and Allegiance Group's industrial park. Together they promise to create 52,000 jobs, enhancing the state's industrial landscape.

Andhra Pradesh Chief Minister N Chandrababu Naidu declared a pivotal collaboration with Taiwanese companies, culminating in investments totaling Rs 18,400 crore. The partnerships were forged with Allegiance Group and Creative Sensor Inc, promising a significant economic upturn for the state.

Under the agreement, eJoule India JV, a collaboration involving eJoule Inc from the USA, Creative Sensor Inc of Taiwan, and Senaste Technologies LLP from India, is set to inject Rs 18,000 into a manufacturing facility in Orvakal, Kurnool district. This venture is positioned to spearhead innovation with a 23 GWh precursor-free single-crystal cathode active material production and solid-state electrolyte manufacturing plant.

In a separate venture, Allegiance Group plans to develop an industrial park spanning 470 acres in Kuppam, committing Rs 400 crore. Collectively, these projects are expected to yield 52,000 jobs, significantly enhancing employment and industrial development in the region.

(With inputs from agencies.)