Andhra Pradesh Magazine English May 2016 | Page 18

HERO MOTORCORP
To ProvIDe
eMPloyMenT To 15k
PeoPle

fIllIP To AncIllIAry
unITS
As per the plans,
Bajaj MotoCorp will
begin production of
5 lakh units
(per annum) in the
first phase by
December 2018
with an investment
of Rs 800 crore.

H

to begin production by 2018

ero MotoCorp is all set to
begin production of the
proposed plant in Sri City
in Chittoor district, after
more than 18 months since signing
an Memorandum of Understanding
(MoU) with the state government.
As per the plans, Bajaj MotoCorp will
begin production of 5 lakh units (per
annum) in the first phase by December 2018 with an investment of Rs
800 crore..
M Girija Shankar, Industries Secretary said, "With another 5 lakh units
to its production capacity in the second phase by December 2020, an additional 8 lakh units will be added in
the third phase by December 2023.
Moreover, an initial investment of Rs
800 crore for both the phases have
also been planned."
Hero MotoCorp will provide employment to more than 1,500 people in
the first phase and another 3,500 in
the subsequent phases.
The company had signed a MoU with
the Andhra Pradesh government in
September 2014 for setting up a
two-wheeler manufacturing facility
at Madannapalem in Chittoor district.
The plant would come up close to
the existing Sri City Special Economic Zone.
This was the first major project in
the manufacturing sector that the
Chandrababu Naidu govern