Amaravati, March 17: Malaysian govt 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 a mark of beginning to attract 40 companies with an investment of Rs 350 crore.
Malaysian Prime Minister is scheduled to enter into a Memorandum of Understanding with the state government during his visit to the state in April. The Malaysian delegation met Chief Minister at secretariat on Thursday.
The Malaysian industry- govt 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 haystock, sugarcane, maize waste materials.
The Malaysian delegation informed that the biodegradable products have a demand of ten billion dollars market in Europe and 300 billion dollars market in USA.
Dr S Samy Vellu, South Indian affairs in-charge said that the Malaysian govt would extend cooperation for the development of Andhra Pradesh.