CETC Renewable Energy Technology Company, an ancillary of China Electronics Technology Group signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to set up a Mega Solar Manufacturing Plant in Andhra Pradesh, Chittoor.This investment was facilitated by the Andhra Pradesh Economic Development Board, a single point of contact for trade, investments and partnerships in the state of Andhra Pradesh who have been elevating the status of partnerships with China, Taiwan, South Korea and Japan sustainably to attract manufacturers to Make in Andhra Pradesh. By this collaboration CETC will invest USD 50 million in a Solar PVC Manufacturing park in Sri City, Andhra Pradesh.
The state-of- the-art Solar Manufacturing Park sprawling across around 18 acres will be in Sri City, Chittoor, Andhra Pradesh. By this investment 300 new employments will be generated in our state in the first phase and about 1500 total jobs will be created. As a result, the Government of Andhra Pradesh is likely to earn USD 8 million in taxes every year once completed.