Hyderabad, April 8: Andhra Pradesh has always been keen to invest in technology. Andhra Pradesh has inked a contract to set up the technology park over 250 acres of area. This new project aims to focus on new technologies and also to attract private sector investment.
The Andhra Pradesh Economic Development Board in collaboration with MIGHT Technology Nurturing Pvt Ltd (MTN) will develop the technology park ovber the allotted area. "This collaboration will drive the development of technology parks to the next level through an integrated approach in bridging technology, market, funding and talent,” said Datuk Nik A. Faizul Abd. Mallek, Managing Director of MTN.
"As part of the Look East Policy, Andhra Pradesh is building strong, resilient and sustainable partnerships with everyone and Malaysia is a key partner for us," said Andhra Pradesh Chief Minister N Chandrababu Naidu.
This tech park will be based on environment and sustainability and involves 75 small and medium enterprises and provide direct employment for 5,500 people
MTN, which is a wholly owned subsidiary of the Malaysian Industry-Government Group for High Technology (MIGHT), will provide consultation in the areas of feasibility, planning and development of the park, in addition to bringing in initial technology. Both partners agreed to develop a master plan for the project after conducting a feasibility study.