CETC Renewable Energy Technology Company, an ancillary of China Electronics Technology Group, signed a Memorandum of Understanding (MoU) with the Indian Andhra Pradesh Economic Development Board (APEDB) to set up a mega solar manufacturing plant in Andhra Pradesh, Chittoor.
According to ABEDB, in the first phase the company will invest $50 million in a solar PV manufacturing park in Sri City, Andhra Pradesh. 300 new employments will be generated in the first phase and about 1,500 total jobs will be created. As a result, the Government of Andhra Pradesh is likely to earn $8 million in taxes every year once completed. The investment was facilitated by the Andhra Pradesh Economic Development Board, a single point of contact for trade, investments and partnerships in the state of Andhra Pradesh.
CETC, headquartered in Beijing, includes 18 national key laboratories, 10 national research and innovation centers and has a workforce of 150,000 employees and is the largest electronic conglomerate in China.
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