Andhra inks deals with two Taiwanese companies involving Rs 18,400 crore investment

Visakhapatnam: Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday said that the state has inked two agreements with an investment of Rs 18,400 crore, involving Taiwanese companies Allegiance Group and Creative Sensor Inc.

The CM noted that eJoule India JV, a partnership between eJoule Inc (USA), Creative Sensor Inc (Taiwan) and Senaste Technologies LLP (India) will invest Rs 18,000 at Orvakal in Kurnool district.

"The Government of Andhra Pradesh signed two significant MoUs with leading Taiwanese companies, marking another step in strengthening the state's industrial growth story," Naidu said in a post on 'X'.

As part of the deal, eJoule India JV will establish India's first 23 GWh precursor-free single-crystal cathode active material and a solid state electrolyte manufacturing facility.

According to the CM, this investment will generate around 2,000 direct jobs.

He also said that Allegiance Group will set up an industrial park across 470 acres in Kuppam with an investment of Rs 400 crore, creating about 50,000 direct and indirect jobs.