AP, Chinese associations sign pact to develop industrial park

Two Chinese associations today signed a pact with the Andhra Pradesh government for developing an international industrial park in the state. The park will be developed in 10,000 acres of land at Donakonda in the backward Prakasam district with an aggregate investment of Rs 43,120 crore in three phases, creating 55,000 direct and 1.20 lakh indirect jobs, a release from the Chief Minister's Office said here. The Memorandum of Understanding (MoU) was signed between the state Industries Department and the China Association of Small and Medium Entrepreneurs and China Small and Medium Enterprises Group (Beijing), during Chief Minister Chandrababu Naidu's visit to Tianjin today. "A building materials industrial park will be set up with an investment of Rs 6,036 crore and a building materials logistics park with an investment of Rs 36,889 crore in 10,000 acres at Donakonda. In the first phase, an investment of Rs 10,106 crore will be made," the release said, without specifying the timeline. State Finance Minister Yanamala Ramakrishnudu and senior bureaucrats are accompanying the Chief Minister on the four-day China tour.