Amaravati, May 10 -- Andhra Pradesh Minister for MSME and NRI Affairs, Kondapalli Srinivas, laid the foundation stone for the state's first MSME park in Balighattam, Vizianagaram district, on Friday.

The development marks the beginning of the state's ambitious plan to establish 175 MSME parks across Andhra Pradesh.

The Balighattam MSME park will be developed on 57 acres with an initial investment of Rs 7 crore. This facility is designed to accommodate 76 small-scale industries, with projected investments reaching Rs 96 crore.

Once operational, the park is expected to generate approximately 1,500 direct employment opportunities and an additional 500 indirect jobs.

"The state government is committed to creating an environment conducive ...