Hyderabad — As many as 15 companies including industrialists from Unites States have assured of about 50 billion rupee investments in Andhra Pradesh that will create employment to over 10,000 people.
The assurances were made to AP Information Technology Minister Palle Raghunatha Reddy, who was on a visit to the US during July 1 to July 8, according to an official release here today.
American Hilliard Energy Company’s Chairman’s Son Sterling Hilliard has handed over his company’s Letter of Intent for investment of Rs 3,600 crore (USD 600 million) in Ananthapur district of Andhra Pradesh in solar and wind power sector for generation of 650 MW, it said.
Vice President of Cloud Rack handed over Letter of Intent for establishment of IT company in Tirupati with an investment of USD 3 million to USD 7 million, the release said.
Glamantech Company President Hariprasad Naidu Medarametla handed over the Letter of Intent for establishment of his IT company in Tirupati with investment of around USD 5 million to USD 10 million.
The vice president of Architekt Domain.com handed over the Letter of Intent for establishment of his IT company in Tirupati with investment of around USD 4 million to USD 5 million, it added.
Similarly, Startech Group CEO Ravi Sakamuri handed over the Letter of Intent to establish his University of Texas Online Courses for Dual Certification with JNTU.
Ravi Cheerala, a leading NRI Telugu Industrialist in America has promised to invest Rs 600 crore in steel, aluminium and power sectors in AP.
Some IT Companies besides health/pharma based-companies also announced to establish their companies in Anantapur, Visakhapatnam, Vijayawada, the release added.