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‘Bhumi puja' for Taiwanese enclave held

Rajulapudi Srinivas

To provide exclusive zone for Taiwan firms

- Photo: K.V. Poornachandra Kumar

For development: TIDI president Steve Chen, AP Invest CEO M. Pratap and Sri City MD Ravindra Sannareddy at the ‘bhumi puja' of the Taiwan Formosa Industrial Park in Chittoor district on Thursday.

NELLORE: Officials of Sri City multipurpose Special Economic Zone (SEZ) and Taiwan-India Investment and Development Limited (TIDI) performed ‘bhumi puja' for the Taiwan Formosa Industrial Park in the SEZ on Thursday.

The first of its kind Taiwanese enclave, being developed in a sprawling 500 acre area in Sri City, will provide an exclusive zone for Taiwanese manufacturing companies, which would set up their operations in India.

Deputy Chairman of Taiwan External Trade Development Council and Taipei World Trade Centre Wayne W.Wu, Sri City co-founder and Managing Director Ravindra Sannareddy, TIDI President Steve Chen, AP Invest CEO Madireddy Pratap, TIDI Director Tony Hsu and others attended the programme. Speaking on the occasion, Mr.Wayne said it was happy to have Memorandum of Understanding (MoU) with Sri City for Taiwan-India Investment and Development Limited for establishing the industrial park in Andhra Pradesh. Mr.Chen said India is one of the major markets for Taiwan. He thanked the Andhra Pradesh government and the local people for extending good support for Taiwan companies. Mr.Tony Hsu said as the Andhra Pradesh government is extending good support for Taiwan companies, we have come forward to set up the enclave in the State. The park will soon commence operations with a total investment of around 50 million USD and more than 70 companies would be set up in the new enclave.

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