Holitech Technology signs MoU with AP

Xiaomi, China’’s number one smartphone brand key component supplier Holitech Technology today signed an MoU with Government of Andhra Pradesh to  start component manufacturing at Tirupati, in the presence of Chief Minister Chandrababu Naidu.

The Holitech Technology will invest nearly 200 million dollar for manufacturing camera modules, thin film transistor, capacitive touch screen module, flexible printed circuits and fingerprint sensor to provide 6000 jobs in three years. The component manufacturing plant would be spread across 75 acres of land in the city of Tirupati and start production with nearly 50 million components per month.

Chandrababu Naidu said the company starting major operations for first time outside China. He said AP has more potential with abundant resources and infrastructure. He said better eco system was created in the state to encourage industries.

IT Minister Nara Lokesh said Andhra Pradesh has young entrepreneurial spirit and poses an attractive destination for similar minded companies. The Holitech Technology will certainly initiate a big revolution in the market for local manufacturing.

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