Ready to roll out red carpet for investors in AP, says Naidu

ANI | Updated: Mar 23, 2018 15:37 IST

Chittoor (Andhra Pradesh) [India], Mar. 23 (ANI): Andhra Pradesh Chief Minister N. Chandrababu Naidu on Friday impressed upon the investors that his administration will roll out a red carpet for them to set up their businesses in the state.

While launching the Hero Motors plant project in Chittoor district, he highlighted the differences between his administration and the rest and said the AP government will assist anyone who shows interest in investing in the state.

"Anybody can call me with their problems and I will try best to assist that person and company," he said at the event.

Welcoming the investment from Hero Motors in the state, Naidu said, "It's the world largest manufacturer of two wheelers, with a market cap of over Rs. 69,000 crore. They have many plants in India and today in Sri city, this is their eighth plant."

He also added that he wants to make Sri city an automobile hub.

"Indian market is going to change. Electrical market should also be produced here in Sri city. This is the cluster we are thinking and this the hub we want to create," he said.

Hero motors will be established for production of 5 lakh motor cycles by 2019 December.

Hero motors production will be doubled after the completion of the second unit in 2020.

Production of motor vehicles will be further up to 18 lakh motor cycles by the year 2025.

The total investment by the Hero motors company will be Rs 3,200 crore for the motor cycle manufacturing unit in Andhra Pradesh. (ANI)