Solar Investments flow into Sunrise Andhra Pradesh from China
Days after Andhra Pradesh has been ranked 2nd by the World Bank in Ease of Doing Business, I'm happy to announce that China-based solar equipment maker Xi'an LONGi Silicon Materials Corp has come forward with an initial investment of Rs.1,500 crore in a manufacturing plant in our Sunrise Andhra Pradesh.
Yesterday, our government and Sri City has signed MoUs with the Chinese company to set up a manufacturing facility with an initial capacity of 500 MW in Chittoor District. Under phase 1, this will create 1,000 jobs.
However, Xi'an LONGi as part of its long-term plans, will eventually invest Rs. 8,000 crore in our state and manufacture solar cell and modules. This entire investment will result in creating a total of 5,000 jobs.
My heartfelt thanks to chairman Baoshen Zhong who has come forward and trusted Andhra Pradesh with this investment. He believes that this investment will boost production of clean energy equipment in the country.
I see this as a very good investment from China in Andhra Pradesh. I believe that Solar power is the best solution for sustainable economic growth.
Xi'an LONGi's investment is also a major boost to India's ambitious target of having 100 GW of solar power capacity by 2022 under National Solar Mission.
Currently, our state shares 10% of the country’s target for solar power. I want to create a Solar Manufacturing Hub in Andhra Pradesh.
With the interest in the sector from solar manufacturing companies, I’m hopeful that more than 50% of India’s manufacturing capacity will be set up in AP in the long term.
This is a success story between China-India trade relations after my visit to China in April this year. I'm sure that several foreign companies will follow suit.
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