Dr. Y.S. Rajasekhara Reddy lays foundation stone for Sri City

Company Brief

New Delhi, August 8, 2008

The foundation stone for Sri City was laid by Dr. Y.S. Rajasekhara Reddy, Hon’ble Chief Minister of Andhra Pradesh. The Special Guest of Honour for the function was Mr. Arcot N. Veeraswami, Hon’ble Minister for Electricity, Govt. of Tamil Nadu.

Sri City SEZ, a multi-product Special Economic Zone is located on the border of Andhra Pradesh and Tamil Nadu and has a distinct advantage of well-established connectivity by rail, road coupled with proximity to 3 seaports and 2 airports

Sri City is promoted by Mr Ravindra Sannareddy, an NRI, along with other associates and internationally reputed Private Equity Firms, in functional partnership with the Government of Andhra Pradesh. Master-planned by Jurong Consultants, Singapore, Sri City spreads over 5000 acres with well-demarcated industrial zones and an adjacent Domestic Tariff Area.

A systemic network of 6-lanes/ 4-lanes/ 2-lanes internal roads(designed by STUP and Wilbur Smith) spread over 50 Kms, reliable power, dependable water supply and sewerage disposal along with high-speed telecommunication networks, will form the backbone of the infrastructure. Professional Operations & Maintenance systems will facilitate streamlined operations in a clean, green environment. Additionally support infrastructure in the form of residential, commercial and recreational facilities, will bring alive the concept of ‘Work-live-learn-play’ in Sri City, providing employees with an enriching lifestyle.

Sri City is the first SEZ to ensure that all the people residing in the neighboring areas will be provided employment either by Sri City or by the companies setting up facilities here. A specialized training and placement cell is already in place to aid this process. Additionally, special incentives are given to companies that employ large numbers of locals, with a preference to women.

While delivering the Key Note Address at the Ground-breaking Ceremony, Hon’ble Chief Minister of Andhra Pradesh, Dr. Y.S. Rajasekhara Reddy lauded Mr. Ravindra Sannareddy’s entrepreneurial zeal and his efforts towards creating South India’s largest private sector multi-product Special Economic Zone. Dr. Reddy also presented Letters of Allotment to customers of Sri City and laid the foundation stone for the Industrial Units.

About 300 units are eventually expected to operate in Sri City with an estimated investment of Rs. 17500 Crores generating employment opportunities for approximately 1.75 Lakh people. Some of the companies that have already signed up with Sri City include - Venture (SA), VRV (Italy), Eura Abrastone (Spain), BFG International (Bahrain), Intimate Apparels (Indonesia).

Venture, a South African based 2500 crore group with over 5000 employees and a global presence caters largely to the automotive and allied industries. The Venture Group is an “art to part” engineering supplier which makes dies, moulds and tools for General Motors, BMW, Ford, Chrysler etc. Mr. Mark Walker, CEO, says “Our aim is to serve our clients through “Just-in-time” delivery of our products and Sri City promises us with the necessary means towards achieving this. We look forward to a clean and green environment at Sri City coupled with the excellent connectivity of the three seaports.”

Italy based global leader VRV, designs and manufactures equipment for the storage, transportation and distribution of liquefied gases. Said Mr Frederico Spada, Director, “We make specialized cryogenic equipment which requires to be transported by heavy and lengthy trucks (with 46 wheels). Sri City is our choice for setting up our unit as it can provide us with the quality infrastructure best suited to our needs.”

BFG, Bahrain manufacturers rail interiors for exporting to Asian and European countries. According to Mr. Babu Umamaheshwar, Director, “BFG needed to commence production within the next four months and Sri City, SEZ had all the necessary approvals and support infrastructure in place for us to do so.”

On the occasion, a proud Mr. Ravindra Sannareddy said, “Sri City has brought together new export-based industries from different parts of the world. Also in the pipeline are different companies across varied sectors manufacturing forge wheels for the TGV trains in Europe, metro rail coaches, specialized equipment for space research, equipment required for oil rigs, aircraft component etc.

The very fact that the Hon’ble Chief Minister of Andhra Pradesh Dr. Y.S. Rajasekhara Reddy, Mr Arcot N. Veeraswami, Hon’ble Minister for Electricity, Govt. of Tamil Nadu, distinguished ministers from both states, members from leading political parties, industry captains, esteemed consular and chamber heads of various countries are attending this function today gives us the confidence that Sri City will become a unique business destination which will set new benchmarks in the SEZ domain in India.”

For further information please contact:

Sri City

Smita Mathew, Manager (Marketing)

Mobile: + 91 – 9790946751

Hanmer MS&L

Vishwajeet

Tel: 46517700

Mobile: 9811206387

Email: nisha@hanmermsl.com