SREI Infra to help set up aerospace park in AP.

SREI Infrastructure Finance Ltd. is engaged in parleys with the Andhra Pradesh government for facilitating the setting up of an aerospace/aircraft part manufacturing facility in Anantapur district.

State IT Minister Palle Raghunath Reddy has been interacting with a team deployed by SREI and the District Collector for facilitation of 500 acres of land.

A team comprising representatives of SREI, Vivek Sinha and Avishek Gupta recently met with the minister and representatives of the District Collectorate and Andhra Pradesh Industrial Infrastructure Corporation, the nodal agency for facilitation of industries in the State.

When contacted, Hemanth Kanoria, Chairman of SREI, told BusinessLine, 'They were in the process of identifying suitable sites for the proposed project for a big aerospace company.'

A number of multinational corporations in aerospace are looking at Andhra Pradesh for manufacturing facilities.

'As a company engaged in the infrastructure sector, we have been approached by an aerospace major to facilitate them in setting up a unit. Accordingly, we are in negotiations with the State government,' Kanoria said.

If the project materialises as proposed, the State may see an investment of up to $1 billion (about Rs. 6,000 crore).

HBL