Raymond group to invest Rs 940 crore in Andhra Pradesh
Fabric and fashion retailer Raymond Group has plans to invest Rs 940 crore in the state of Andhra Pradesh. The Andhra Pradesh state government has approved the investment proposals of the firm.
The firm's subsidiary, JK Maini Global Aerospace Limited, will set up an advanced aerospace manufacturing facility in Satya Sai district with an investment of Rs 510 crore. While other subsidiary JK Maini Precision Technology Ltd will establish an automotive component manufacturing unit at Gudipalli, investing Rs 430 crore.
These projects are approved under the state's Industrial Development Policy 4.0.
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