Singapore-based Aria Global has announced plans to invest ₹300 crore in Andhra Pradesh (AP) to set up manufacturing plants for hydrofoil boats and synthetic wood. The company's executive director, Sampath Kumar, met with AP's Minister for Infrastructure and Investments, B.C. Janardhan Reddy, on Thursday to discuss the project.
Minister Reddy assured Aria Global of the state government's full support for the venture. The hydrofoil boats manufactured in AP are intended for the Indian Navy, which is currently in talks with Aria Global for procurement. These boats are known for their durability, agility, and high speed, making them ideal for coastal patrolling.
In addition to hydrofoil boats, Aria Global also plans to manufacture bio-synthetic wood from plastic waste. This innovative product is said to be comparable to natural wood in quality and poses no threat of environmental pollution.
