ANDHRA PRADESH

Stone laid for Caparo industrial park, SEZ

NEW FACILITY: Chief Minister Y. S. Rajasekhara Reddy watching a map before laying the foundation for the Caparo Industrial Park and Special Economic Zone at Menakur in Nellore district on Thursday.

NEW FACILITY: Chief Minister Y. S. Rajasekhara Reddy watching a map before laying the foundation for the Caparo Industrial Park and Special Economic Zone at Menakur in Nellore district on Thursday.  

Staff Reporter

Two facilities to herald new beginning in the domain of manufacturing, says Chief Minister

MENAKUR (NELLORE Dt): Chief Minister Y. S. Rajasekhara Reddy laid the foundation stone for the Caparo industrial park and a Special Economic Zone (SEZ) here on Thursday.

Speaking after the ground breaking ceremony, the Chief Minister said these two facilities would herald a new beginning in the domain of manufacturing as the UK-based Caparo group would set up a world-class auto and aerospace component hub with an investment of Rs 3,500 crore in a phased manner.

Luxury bus unit

“It will be the first world-class luxury bus plant in the State in a joint venture with a top-class automobile company that can provide around 10,000 jobs.” Outlining the details, the Chief Minister said the Caparo group would be setting up four to five units on its own besides joint venture projects in the automotive, engineering and aerospace sectors.

To begin with, Caparo would set up a luxury bus manufacturing plant in collaboration with Hyundai Motors of South Korea. The buses were meant for sale in Indian market.

Claiming that an industrial revolution was taking place in Nellore district given its advantages on connectivity front besides being close to Chennai,

Dr. Reddy said that around 2,000 acres had been allocated at Rs 1 lakh per acre in which 1,500 acres would be set aside for the development of the industrial park and 500 acres for export promotion SEZ. “Thus a range of auto component technologies will come under one roof and will eventually consolidate aerospace technologies at one location.”

One more SEZ

The Chief Minister further said that one more SEZ would be established at Krishnapatnam in addition to an airport at Podalkur. “Besides, Taiwanese industries are keen to set up their units in the district. Thus Nellore district is already brimming with industrial activity with different kind of industries.”

Earlier, Caparo India chairman Angad Paul said that they would indeed set up a luxury bus manufacturing unit in Nellore district only. “Both the Government and in particular the bureaucracy have been proactive in wooing investment and Nellore is a very suitable place to set up industrial units given its various advantages,” he said.

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