Taiwanese firm set to invest Rs 700 crore in Andhra Pradesh

AMARAVATI: Global passive component manufacturer PSA Walsin Technology Corporation is set to invest 700 crore in the state. Walsin is one of many Taiwanese companies to have expressed interest to forge an alliance with the Andhra Pradesh government. The director-general of the Taipei Economic and Cultural Centre Ben Wang on Friday met with chief minister YS Jagan Mohan Reddy and promised to encourage more industrial units to set up shop in AP. The CM assured Wang of all possible support.
Speaking to the media, industries minister M Gautham Reddy said they were inching closer to striking more deals with Taiwanese firms.The minister said they would make the formal announcements upon completion of the deals. He said the state is expected to get investments to the tune of 20,000 crore over the next few months. “The Adani Group is also putting up nearly 15,000 crore for a data centre in Vizag. The TDP, which spread lies over the data centre, owes an apology to the people,” the minister said.
Gautham Reddy also emphasised on close ties between India and Taiwan and AP’s role in strengthening the partnership. “Being on the east coast of India, AP is naturally suited to be an active enabler for trade with Taiwan,” he said.
The minister also mooted the idea of creating a hub for manufacturing bicyles and e-bikes to cater to both domestic and export markets. He said that a dedicated Taiwan Desk would be set up under the aegis of YSR AP ONE business enablement centre and added that they would also nominate a special representative of AP in Taiwan to coordinate on issues of mutual interest.
Later in the day, Ben Wang participated in the Taiwan-AP business roundtable organised by industries department at APIIC buildings. Taiwanese firms such as Foxlink, Greentech Industries, Apache Footwear, Intelligent SEZ, Foxconn, Applied Materials and PSA Walsin participated in the discussions.