13 new companies start construction at facilities in Sri City: Official

Sri City one of the popular special economic zones located in the region has attracted fresh investments from 13 new companies which have signed memorandum of understandings in 2022, an official said

Sri City one of the popular special economic zones located in the region has attracted fresh investments from 13 new companies which have signed memorandum of understandings in 2022, a top official said.

Besides bagging in new deals, the cumulative exports made from Sri City, located about 90 km from here stood at Rs 750 crore.

Sri City founder Ravindra Sannareddy said, "It (2022) has been an impressive year for us, and we thank all our clients who are partnering with us. Sustaining our growth, we look forward to more exciting developments in 2023. I take this opportunity to express great delight at the progress and growth witnessed in Sri City."

"From adopting the latest industrial practices that ensure quality and sustainability, to manufacturers displaying consistent growth, industrial units in Sri City have shown strong resilience to global upheavals and created a niche for themselves," Sannareddy also the managing director, said.

EPACK Durable, Blue Star Climatech Ltd, Bell Flavours, Autodata, Daikin, Havells were some of the companies that commenced construction at their facilities in Sri City. While Nova Air, Triune, Axxelent Pharma, Panasonic, NGC Transmission, Sankar Sealing commenced operations in 2022, he said.

Besides the presence of large facilities, Sri City was also emerging as an air conditioner manufacturing hub as companies like Blue Star, Amber, EPACK Durable and Havells have set up their air conditioner's manufacturing base.

"Numerous units have been recognised and felicitated across forums and have been awarded indentures for their products. I extend my congratulations to Mondelez, Alstom, Coldman Logistics, Astrotech Steels, Thermax among others for achieving great scales", he said.

"I congratulate Isuzu Motors India for reaching the milestone of celebrating their 10th anniversary in India," Sannareddy said.