News/City Updates

37 South Korean firms to invest 4000 crore in Andhra Pradesh

In what seems to be another boost to the state of Andhra Pradesh, South Korea has come forward to invest a whopping Rs 4,000 crore in the state. Around 37 companies have shown interest to invest in the state and generate as many as 7,000 jobs. The proposal is, reportedly, expected to take shape by March next year.

A report in Times of India reported that most of these 37 companies belong to the automobile sector.

A statement released by the CMO on their social media handles stated that South Korea Consul-General, Kim Hyung, met the Chief Minister and discussed upon various aspects. It also stated that the Korean companies have expressed interest to invest in the state of Andhra Pradesh and are looking to strengthen the financial and cultural ties with the state. It has also been reported that the companies are looking forward to establishing their firms in the upcoming Korean city

in the state.

The Chief Minister assured the officials that Andhra Pradesh is served with favourable conditions to do business and any potential problems that might arise over the due course of time will be immediately dealt with.

It was reported a few days ago that Andhra Pradesh is likely to embrace a ‘South Korean City’ in the state’s capital Amaravati or elsewhere in the state. The South Korean delegation had proposed to bring in at least 30 companies in the sectors of electric steel, logistics, automobile components, liquors, medical, marine equipment and more to Andhra Pradesh.

Share
Leave a Comment

Recent Posts

Lawyers promise legal support to gangrape victim

Lawyers in Visakhapatnam staged a dharna in front of the district court on 22 November…

47 mins ago

India’s largest convention centre will come up in Visakhapatnam: Nara Lokesh

During the AP Assembly session on 21 November 2024, IT and HRD Minister Nara Lokesh…

2 hours ago

2nd Infosys campus to new data units: Lokesh shares 5 key IT developments in Visakhapatnam

Andhra Pradesh's IT and HRD Minister, Nara Lokesh, has revealed a series of exciting IT…

3 hours ago

Badamgir Sai passes away

Noted stage artiste and founder of Rangasai Nataka Sangam and Rangasai Nataka Grandhalayam, AVVS Murthy,…

4 hours ago

What Are The New Releases on OTT Today? Here’s What to Add to Your Watchlist

A slew of fresh and exciting OTT releases are dropping today, promising a binge-worthy lineup…

19 hours ago

Hot & Hearty: The best soups in Visakhapatnam that complements this weather!

With the weather taking a turn these past couple of days, it’s like Visakhapatnam has…

20 hours ago