Worrisome Andhra Pradesh has got a big boost in automotive sector.
The fighting State, for Special Status for Industrial Development, has inked a Memorandum of Understanding with Hyundai Mobis, a sister group of Kia Motors of South Korea. Before Chief Minister Chandra Babu Naidu, MOU was signed by State’s Industries Minister Amarnath Reddy and Principle Secretary Soloman Arokia Raj on Monday. State Government has allocated 736 acres in Ananthapuram District to develop automotive sector by Hyundai Mobis. The 16 Companies which are part of Hyundai Mobis would invest Rs 4970 Crore to develop Automobile Cluster to create 6583 employment in the District.
While appreciating Kia Motors and Korean Companies, the CM has said Automobile Corridor would be developed between Ananthapuram, Nellore Districts via Chittor as Suzuki Motors, Hero Motors, Appolo Tyres, Bharat Benz, Ashok leyland have already started their manufacturing activity.
As Ananthapuram District is nearer to Visakhapatnam- Chennai and Banglore- Chennai Industrial Corridor, because of State Government’s Automobile friendly Policy, total Rs 24000 Crore Investments have come to State, the Chief Minister said. Naidu aspired Kia’s first car release by this month end and 3 lakh cars production per annum. Korean Companies Hyundai Dymos, Hyundai Steels, Hyundai Glovis, Sungwoo, Saehan, Seoyan Ewha, NVH, Hyundai Materials, Forecia, Sl, Wooyoung, Hwaseung, INZI, Boogook, DSC etc.