Hyderabad, February 24: The US based Brighton Equipment Corporation on Wednesday signed a memorandum of understanding (MoU) with the state government for setting up of its Rs 2,900 crore nuclear power equipment manufacturing unit at Nakkapally village in Visakhapatnam.
This is one of the biggest projects with foreign direct investment (FDI) in the state in recent times.
Speaking on the occasion, chief minister N Kiran Kumar Reddy expressed happiness over the quickness of Brighton Group for establishment of its mega manufacturing unit in the state and assured all cooperation from the government required for the speedy completion of the project.
The government has already earmarked around 800 acres land for the establishment of the project and other ancillary units.
It will also provide all infrastructure facilities like water, power and road connectivity for the smooth functioning of the unit.
The Brighton Group chairman Kitkung said that the company has proposed to convert the nuclear power equipment manufacturing facility as a special economic zone as several ancillary units will come up to meet the requirements of the main unit.
About one lakh personnel are expected to get employment after completion of the projects and its supporting factories within five years.
Major Industries minister J Geeta Reddy, principal secretary for Industries and Commerce Sam Bob and Andhra Pradesh Industrial Infrastructure Corporation (APIIC) vicechairman and managing director BR Meena were present.
–Agencies