Visakhapatnam

Andhra Pradesh: Jagan inaugurates Phase-I of ATC Tires unit at Atchutapuram SEZ

Chief Minister Y.S. Jagan Mohan Reddy at the inauguration of the Phase-I of the ATC Tires AP Private Limited, at Atchutapuram in Anakapalli district on Tuesday.

Chief Minister Y.S. Jagan Mohan Reddy at the inauguration of the Phase-I of the ATC Tires AP Private Limited, at Atchutapuram in Anakapalli district on Tuesday.

The State government had passed a legislation making it mandatory for the investors setting up industries in Andhra Pradesh to provide 75% employment to the local people, Chief Minister Y.S. Jagan Mohan Reddy said on Tuesday.

The Chief Minister was speaking after inaugurating the Phase-I of ATC Tires AP Private Limited, at the Atchutapuram SEZ in Anakapalli district, which was completed in a record 15 months.

While employment for the local residents would eliminate poverty and ensure improved lifestyle, the cooperation of the residents was important to bring in more investors to the State, he said.

He appealed to the local people not to aggravate minor issues, if any, but strive to solve them. This would improve investor confidence, he added.

Yokohama had committed itself to completing the Phase-II of the unit by August 2023, and it was an indication of the company’s trust in the government, the Chief Minister said.

On completion of the second phase, the total investment of the company would be ₹2,200 crore and the total employees would be around 2,000.

Industrial target

The Chief Minister said that in the last three years, 98 large and mega industries had set up units in the State with an investment of ₹39,350 crore and providing employment to 60,000 people. Similarly, 30,671 MSMEs had invested ₹2,085 crore, providing employment to 1,00,591 people in the last three years, he added.

The Chief Minister said the target was to set up 56 large and mega industries to provide employment to 1.65 lakh people in the next two years to pave the way for industrialisation in a big way.

EoDB ranking

“Andhra Pradesh has been consistently getting the No. 1 rank in the Ease-of-Doing Business (EoDB) for the last three years despite changes in the certification rules,” Mr. Jagan Mohan Reddy said.

“The YSRCP government has paid the dues and arrears of incentives payable by the previous government to the MSMEs besides giving new incentives of ₹1,463 crore to them in the last three years,” the Chief Minister said.

“Andhra Pradesh had registered a GSDP growth of 11.43% in 2021 against the national growth of only 8.73%,” he said.

“We are a proactive government and we are just a phone call away to give support,” Mr. Jagan Mohan Reddy told the investors and foreign delegates present on the occasion.

Minister for Industries G. Amarnath; Consul-General of Japan in Chennai Taga Masayuki; ATC Tires CEO Nitin Mantri; ATC Tires COO Anil Gupta; and Yelamanchili MLA U.V. Ramana Murthy Raju were among those who spoke.

District Collector Ravi Pattanshetty and Superintendent of Police Gautami Sali were present.


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Printable version | Aug 28, 2022 12:12:49 am | https://www.thehindu.com/news/cities/Visakhapatnam/andhra-pradesh-jagan-inaugurates-phase-i-of-atc-tires-unit-at/article65775010.ece