Vijayawada: The Malaysian government has come forward to extend cooperation to set up small and medium companies in Andhra Pradesh. The state government has allotted 100 acres to set up fourth-generation Technology Park in the capital region as the first step to attract 40 companies with an investment of Rs 350 crore. The Malaysian Prime Minister is scheduled to enter into an MoU with the state government during his visit to the state in April. The Malaysian delegation met Chief Minister N. Chandrababu Naidu at the Secretariat on Friday.
The Malaysian industry-government group for high-power technology (MIGHT) will act as facilitator to set up industries in AP. As part of fourth-generation Technology Park, the MIGHT would develop a cluster to establish recycling plates and packing industries. The farmers will get additional income as the industries use the biodegradable material, including haystack, sugarcane and maize waste materials.
The Malaysian delegation stated that biodegradable products had a $10 billion market in Europe and $300 billion in the US. Dr S. Samy Vellu, South Indian affairs in-charge, said that the Malaysian government would extend cooperation for the development of the state.
