Three MoUs (memorandum of understanding) with Astrum and other companies were signed in the presence of Minister for IT and Electronics N Lokesh on Saturday during his China visit. The companies LLK Design, Shengen Power Technology Limited and Dongguan Weiji Electronic Technology Co. Ltd entered into the agreements with the Astrum, in the presence of Lokesh.
The Astrum already had an agreement with IT and Electronics departments to invest in Andhra Pradesh and now they encourage other investors with these MoUs. The Astrum already invested in the state, informed the Minister’s office in a statement. As part of this agreement, the LLK Design will establish a designing technology centre in Tirupati. Shengen Power Company will open their operational unit in Tirupati. The Dongguan Company will provide technological support to the Astrum and other conglomeration companies in the state.
The Astrum is engaged in consumer electronic goods manufacturing sector in AP. This company has plans to invest more than Rs 100 crore and will generate employment to around 1000 youth. It will establish its manufacturing unit in the Electronic Manufacturing Cluster at Tirupati. Audio, LED lights, smart phones, laptop accessories, computer components, gaming controllers and other consumer electronic products are produced. Lokesh offers sops to China firms: Meanwhile, Lokesh announced bumper offers to the Chinese companies to attract huge investments to the state.
Lokesh said that government will provide land, subsidies, uninterrupted power supply, all approvals within 21 days and many others. He said that the skilled labour is abundantly available in the state. Reacting to his appeal, the delegates from Chinese companies said that they will visit AP next month. —The Hans India