Fourth Gen Tech Park in Andhra Pradesh
Andhra Pradesh Economic Development Board (APEDB) and MiGHT Technology Nurturing Sdn Bhd (MTN) inked Memorandum of Understanding to drive the implementation of fourth generation technology park in the state of Andhra Pradesh, India.
This MoU was exchanged at Hyderabad House, New Delhi in the presence of Shri Narendra Modi, Hon'ble Prime Minister of India and Dato' Sri Mohd Najib Bin Tun Haji Abdul Razak,Hon'ble Prime Minister of Malaysia.
The Andhra Pradesh Economic Development Board has been established with a mission to promote sustainable economic growth through investments and partnerships into Andhra Pradesh, India's Sunrise State. Chaired by the Hon’ble Chief Minister, it is the single point of contact for trade and investments into Andhra Pradesh.
MTN, which is a wholly owned subsidiary of the Malaysian Industry-Government Group for High Technology (MiGHT), will provide full consultation in the areas of feasibility, planning and development of the park, in addition to bringing in initial technology. Both APEDB and MTN have agreed to develop a masterplan for the project after an extensive feasibility study has been conducted, in which the Phase 1 Technology Cluster will be subsequently developed.
The 4th Generation Technology Park will cover an initial area of 250 acres and to provide greater economic contribution to the state, this park will focus on new technologies through the application of Industry 4.0 best practices involving clean-tech, biotechnology, connected digital platforms, big data, robotics and additive manufacturing, etc.
This park will also be applying new standards in park management primarily in the areas of environment and sustainability. “This collaboration will drive the development of technology parks to the next level through an integrated approach in bridging technology, market, funding and talent”, added Datuk Nik A. Faizul Abd. Mallek, Managing Director of MTN.
This park is anticipated to attract private sector investments of USD 100.0 million (Approximately INR 650 crore in the first phase) involving 75 SMEs and providing direct employment of 5,500.
The Phase 1 Cluster will commence with a Bio-Degradable Industry Cluster which will cover an area of 100 acres, to produce Bio-Degradable packaging for food and electronics industries. The technology for this Cluster will be provided by a Malaysian company, Free The Seed Sdn Bhd which sources the raw materials from rice straw biomass to produce Bio-Degradable packaging products through a cellulosic fibre delignification and biotechnology enzymatic treatment processes.
This project will also induce rural economy in Andhra Pradesh by providing opportunity for the rural paddy farmers to participate in the supply of rice straw to the cluster and enjoy significant increase in their household income. It is anticipated that this Phase 1 project will initially benefit 3,000 paddy farmers with an annual incresase of INR 50,000 per annum for each household income, subject to various underlying factors such as land holding of each farmer and harvesting cycle per annum.
Mr. J Krishna Kishore, Chief Executive Officer of APEDB had led a delegation to Malaysia in March 2017 and discussed the possibilities of collaboration with MiGHT.
Subsequently, a delegation led by His Excellency Dato' Seri Utama Samy Vellu, Special Envoy of Infrastructure to India and Southern Asia met the Hon’ble Chief Minister N Chandrababu Naidu and discussed Malaysian investments into Andhra Pradesh.
Hon’ble Chief Minister N Chandrababu Naidu remarked “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”
“Andhra Pradesh is rapidly banking on the 4th Industrial Revolution and we are keen to partner with Malaysia” the Chief Minister added.
Mr. J Krishna Kishore, CEO, APEDB said that “Andhra Pradesh has a huge opportunity to scale bilateral relationships exponentially. The state has been forging partnerships, building strong foundations and engaging with various countries and this MoU with MiGHT will provide an impetus for clean technology and Industry 4.0.
The Phase 1 Bio-Degradable Cluster will serve as Quick Win for the Technology Park Project to provide high Socio-Economic impact to the local communities (SMEs and Farmers) in the State of Andhra Pradesh.