ID :
144085
Tue, 09/28/2010 - 18:29
Auther :
Shortlink :
https://oananews.org//node/144085
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THREE MALAYSIAN COMPANIES TO INVEST IN INDIA`S SRI CITY
GEORGE TOWN (Malaysia), Sept 28 (Bernama) -- Three Malaysian companies are
expected to sign several agreements before year-end to invest in Sri City,
India's first integrated business city located about 55 kilometres North of
Chennai.
Sri City Private Limited Vice President C. Saravanan said the three
Malaysian companies were currently locked in negotiations.
"We expect the Malaysian companies to sign an agreement before the year-end
and invest about US$25 million," he told reporters here Tuesday.
Saravanan is leading a delegation of Sri City top executives on a six-day
official visit to Malaysia to lure Malaysian companies to establish industrial
units in India.
He said the three non-listed Malaysian companies are keen to venture into
the industrial machinery sector for both the export and domestic markets.
"Sri City has attracted over 35 multi-national companies with investments
worth about US$150 million," he said, adding that 11 companies were currently
in operation while five were still under construction.
"We are expecting to get at least another 15 companies to invest in Sri City
before the first-quarter of next year," he said, adding that he will be meeting
the InvestPenang branch representative in Perak, a northern state in Peninsular
Malaysia, Wednesday before heading to Kuala Lumpur to meet representatives from
the Malaysia Investment Development Authority (MIDA).
Sri City, is sprawled over 2,000 hectares of which 1,520 hectares has been
set aside for Special Economic Zones (SEZ) with well-demarcated industrial zones
and necessary customs clearance.
"Well-demarcated industrial zones with the SEZ and Domestic Tariff Zones
(DTZ) include automotive, engineering, logistics and warehousing, aerospace,
electronic, biotech/pharma, renewable energy and other eco-friendly
industries," he said.
With the strategic location on the border of two highly industrialised
states of Andhra Pradesh and Tamil Nadu, he said Sri City offered unmatched
connectivity through three sea-ports, two international airports, national
highways and broad gauge railway service.
"The location advantage provides easy access to manpower resouces - from
unskilled, semi-skilled to skilled labour and professionals," he said.
Master planned and designed by renowned Singapore-based Jurong Consultants,
Sri City is being developed on the concept of Work-Live-Learn-Play model to
emerge as a complete and integrated business city.
-- BERNAMA
expected to sign several agreements before year-end to invest in Sri City,
India's first integrated business city located about 55 kilometres North of
Chennai.
Sri City Private Limited Vice President C. Saravanan said the three
Malaysian companies were currently locked in negotiations.
"We expect the Malaysian companies to sign an agreement before the year-end
and invest about US$25 million," he told reporters here Tuesday.
Saravanan is leading a delegation of Sri City top executives on a six-day
official visit to Malaysia to lure Malaysian companies to establish industrial
units in India.
He said the three non-listed Malaysian companies are keen to venture into
the industrial machinery sector for both the export and domestic markets.
"Sri City has attracted over 35 multi-national companies with investments
worth about US$150 million," he said, adding that 11 companies were currently
in operation while five were still under construction.
"We are expecting to get at least another 15 companies to invest in Sri City
before the first-quarter of next year," he said, adding that he will be meeting
the InvestPenang branch representative in Perak, a northern state in Peninsular
Malaysia, Wednesday before heading to Kuala Lumpur to meet representatives from
the Malaysia Investment Development Authority (MIDA).
Sri City, is sprawled over 2,000 hectares of which 1,520 hectares has been
set aside for Special Economic Zones (SEZ) with well-demarcated industrial zones
and necessary customs clearance.
"Well-demarcated industrial zones with the SEZ and Domestic Tariff Zones
(DTZ) include automotive, engineering, logistics and warehousing, aerospace,
electronic, biotech/pharma, renewable energy and other eco-friendly
industries," he said.
With the strategic location on the border of two highly industrialised
states of Andhra Pradesh and Tamil Nadu, he said Sri City offered unmatched
connectivity through three sea-ports, two international airports, national
highways and broad gauge railway service.
"The location advantage provides easy access to manpower resouces - from
unskilled, semi-skilled to skilled labour and professionals," he said.
Master planned and designed by renowned Singapore-based Jurong Consultants,
Sri City is being developed on the concept of Work-Live-Learn-Play model to
emerge as a complete and integrated business city.
-- BERNAMA
