Sri City eyes more investments from electronics, garment

Sri City eyes more investments from electronics, garment units: MD Chennai, Nov 20(PTI): Sri City, one of the major industrial hubs located near the city was looking at attracting more investments from electronics and garment units, a top official said. "These are large job creation sectors, for instance (Taiwan-based electronic major) Foxconn is able to create jobs for about 15,000 people...", Sri City Managing Director Ravindra Sannareddy told PTI.

He said the industrial space available was for about 500 factories and future investments flow would be in small and medium segment. "If larger investments come, we can house about 300 units...," he said.

According to Sannareddy, about 185 companies from 27 countries have chosen Sri City as their home with making investments of Rs 40,000 crore. "Some more manufacturing units are in construction phase and will soon be a part of this industrial growth engine," he said.

To a query, he said with the presence of several Japanese automotive ancillary industries like NS Instruments, Nittan Valve, NHK Springs, Piolax there exists a strong eco- system for automobile sector in Sri City. "With the manufacturing capacity of some of the these companies almost hitting their upper limit, they are expanding their unit to enhance production capacity," he said.

He said the unique selling proposition to attract more companies to Sri City include availability of developed land, strategic location with excellent multi-modal connectivity, function and maintenance of infrastructure among others. Noting that several global companies including Isuzu, Mondelez International, Colgate-Palmolive, Alstom were present in Sri City, he said the aggregated value of exports from Sri City units during the last eight years was around Rs 5,500 crore.

Sri City was also planning to bring in more number of educational institutions, skill development centres among other social infrastructure to provide a complete ecosystem in the business park, he said..

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