ANDHRA PRADESH GOVT CLEARS INCENTIVE OF Rs 856 CRORE FOR INDIA'S LARGEST CIRCUIT BOARD PLANT

The Andhra Pradesh government has approved a Rs 856-crore incentive for

. The company will establish India's largest Printed Circuit Board (PCB) plant at an investment of Rs 1,595 crore. This project is in partnership with Korea's Shinhyup Electronics on a 51:49 equity shareholding basis and the plant is expected to be commissioned by Oct26. The state government will provide 12.56 acres of land at 75 per cent subsidised cost. The project will be located at the Naidupeta industrial area, which is in close proximity to Chennai, Tamil Nadu. Printed Circuit Boards (PCBs) are essential components in most electronic devices, serving as the base for mounting and interconnecting electronic parts. With a market cap of Rs 16,554 crores, the company has posted a compounded sales growth rate of 55% and compounded profit growth rate of 46% during the last 3 years. It's share price has doubled in the past 6 months from Rs 425 per share to currently Rs 850 per share.