Aria Global, a Singapore and Spain-based company has come forward to set up bio synthetic wood manufacturing unit and hydrofoil boat production facility in Andhra Pradesh, with an investment of Rs. 300 crores.
Recently, Executive Director of Aria Global, Mr. Sampath Kumar, met the Minister of State for Roads and Buildings, Investments and Infrastructure Mr.BC Janardhan Reddy at the Secretariat. Mr. Kumar expressed the company’s interest to set up these two units in the State.
He explained that the firm produces bio synthetic from plastic waste, a process that has successfully been implemented in many places.
He said that the biosynthetic wood slightly resembles natural wood and offers environmental benefits. By utilising this material, the company aims to reduce deforestation and lower costs across various sectors.
Mr.Kumar told the minister that Aria Global is also engaged in the production of hydrofoil boats with advanced technology. He stated that the negotiations regarding supply of these boats to the Indian Navy have already been completed and afinal decision on the issue is under consideration by senior Navy officials.
Mr. Kumar said that these boats are said to be faster and safer than conventional boats and would be useful for coastal patrolling making AP an ideal location for their production.
Mr. Sampath Kumar presented details to Minister Janardhan Reddy that they are ready to invest in bisynthetic wood manufacturing and boat manufacturing companies in the state with an investment of Rs.300 crores if the government provides assistance. Responding to this, Minister Janardhan Reddy said that these matters will be brought to the attention of Chief Minister Mr Nara Chandrababu Naidu. He clarified that he will provide full support to set up companies after talking to the higher officials.
