Andhra inked pact with Russia’s JSC United Shipping Corp

Posted on:15 Oct 2016 09:27:57
Andhra inked pact with Russia’s JSC United Shipping Corp
15 October 2016 Current Affairs: The Economic Development Board of Andhra Pradesh has signed a pact with Russia’s JSC United Shipping Corporation for setting up a ship-building unit in the state.

United is expected to invest about Rs 100 crore in the proposed project.

The EDB signed another memorandum of understanding (MoU) with Russia?s TechnoNICOL Corporation for establishing a world-class manufacturing complex in Visakhapatnam district to produce membranes, shingles and other waterproofing and roofing products.

India is the only country to have registered 7.5 per cent economic growth last year and this will continue. AP has grown by 10.99 per cent last year and now our target is to ensure 15 per cent growth in the next 15-20 years.

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