Chinese building materials park in Andhra Pradesh at $6.4 billion

HYDERABAD: Andhra Pradesh has announced signing one of the largest memoranda of understanding with China’s Association of Small and Medium Enterprises for a building materials and logistics industrial park spread over 10,000 acres, involving $6.4 billion (approximately Rs 36,889 crores) in three phases.

The memorandum of understanding was signed by a team of delegation led by AP chief minister N. Chandrababu Naidu in China on Monday. The proposed industrial park would come up at Donakonda in Andhra, providing employment to at least 55,000 persons.