Naidu claims to have “signed 2,536 MoUs that will pull in investments of about Rs 1,855,000 crore and will create employment for around 4,428,000 people in the state.”
23 Mar 2018 | 13430 Views | By Amit Panday
Andhra Pradesh’s aggressive industrialisation drive is drawing interest and investment from the Indian automotive industry. Earlier today, Hero MotoCorp laid the foundation stone of its eighth manufacturing plant at Chittoor, near Sri City.
Speaking at the ground-breaking ceremony, N Chandrababu Naidu, chief minister of Andhra Pradesh revealed that “Ashok ...
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Andhra Pradesh’s aggressive industrialisation drive is drawing interest and investment from the Indian automotive industry. Earlier today, Hero MotoCorp laid the foundation stone of its eighth manufacturing plant at Chittoor, near Sri City.
Speaking at the ground-breaking ceremony, N Chandrababu Naidu, chief minister of Andhra Pradesh revealed that “Ashok Leyland and Bharat Forge are coming to Andhra Pradesh. Even TVS (Group) plans to manufacture brakes here (Sundaram Brake Linings). I want to set up a world-class auto manufacturing hub in Andhra Pradesh. Rs 35,000 crore investment is coming to Andhra Pradesh across different industries within which the automotive industry is a big participant. In Chittoor district, we have Isuzu Motors India, Apollo Tyres and Hero MotoCorp setting up their facilities. The Sri City township is going to be the best township in India in the near future.”
He added, “We don't have water problems. We have railway and road connectivity, land and power available and are also close to the world class ports. Andhra Pradesh has good infrastructure facilities to offer investors. All investors coming to Andhra Pradesh can get due clearances for setting up their businesses through our online system; no physical meetings are required.”
Naidu claims to have “signed 2,536 MoUs that will pull in investments of about Rs 1,855,000 crore and will create employment for around 4,428,000 people in the state. Of this Rs 540,000 crore worth of investments are already made and this has created employment for about 1,063,000 people.”
Photos courtesy: Andhra Pradesh Twitter handle