Latest News | AP CM Inaugurates Tyre Manufacturing Unit Near Vizag

Visakhapatnam, Aug 16 (PTI) Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Tuesday inaugurated Alliance Tire Group's third Indian plant at the Special Economic Zone at Atchyutapuram in Anakapalli district near here.

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ATG, part of Yokohama Group, currently has two tyre manufacturing plants at Dahez in Gujarat and Tirunelveli in Tamil Nadu.

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Speaking on the occasion, the Chief Minister said ATG invested Rs 1,250 crore in the first phase and would employ 1,200 people in the plant here.

The Chief Minister, who laid the foundation stone for the second phase on the occasion, said the company would invest Rs 850 crore and provide jobs to 800 more persons.

State Industries Minister Gudivada Amarnath, who represents Anakapalli, said the region was fortunate that this plant has come within 15 months.

"In a very short time, the company is providing employment to 800-1,000 persons. In the second phase, it will invest another Rs 1,000 crore, taking the total employment to 2,000," Amarnath said.

According to an official release, the plant will have a production capacity of 100 tonnes per day.

The Chief Minister also conducted bhoomi puja (ground-breaking) for expansion of eight other units in the SEZ.

The Chief Minister said 98 mega and heavy industries were set up in the state in the last three years with an investment of Rs 39,350 crore, providing employment to 60,541 people.

Also, 31,671 micro, small and medium enterprises were also set up with an investment of Rs 8,285 crore, extending jobs to 1,98,521 persons.

"In the next couple of years, another 56 mega and heavy industries are in the pipeline with a total investment of Rs 1.54 lakh crore. These will provide employment opportunity to 1.64 lakh youth," Jagan added.

Deputy Chief Ministers P R Dora, B M Nayudu and others attended the events.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)