AP aims to get 56 new mega industries in 2 years: Jagan

Published on Aug 17, 2022 12:47 AM IST

The chief minister was addressing a gathering after inaugurating the first phase of the manufacturing plant of ATC Tyres Private Limited, (promoted by Yokohama Group of Japan), Atchutapuram special economic zone in Anakapalli district.

Andhra Pradesh is going to get 56 new mega industries at an investment of <span class='webrupee'>₹</span>1,54,000 crore with an employment potential of 1,64,155 people in the next two years,chief minister Y S Jagan Mohan Reddy said on Tuesday. (HT)
Andhra Pradesh is going to get 56 new mega industries at an investment of 1,54,000 crore with an employment potential of 1,64,155 people in the next two years,chief minister Y S Jagan Mohan Reddy said on Tuesday. (HT)
By, Hyderabad

Andhra Pradesh is going to get 56 new mega industries at an investment of 1,54,000 crore with an employment potential of 1,64,155 people in the next two years,chief minister Y S Jagan Mohan Reddy said on Tuesday. Out of the total, 75% jobs will be reserved only for locals, he added.

The chief minister was addressing a gathering after inaugurating the first phase of the manufacturing plant of ATC Tyres Private Limited, (promoted by Yokohama Group of Japan), Atchutapuram special economic zone in Anakapalli district.

The ATC Tyres, which is being set up in two phases at an investment of 2,200 crore, is expected to provide employment for nearly 2,000 people. In the first phase, it has invested 1,250 crore, providing employment to around 1,200 people. The second phase, which is expected to be completed by August 2023, will generate employment for over 800 people.

The chief minister said Andhra Pradesh was making rapid strides in the industrial sector and had achieved No.1 ranking in the country under Ease of Doing Business (EoDB) index.

“In the last three years, 98 mega industries were established with an investment of 39,350 crore, generating employment to around 60,541 people. Under micro-small-medium enterprises (MSME) sector, 31,671 companies were established, creating jobs for over 1,98,521 people with an investment of 8,285 crore,” he said, adding that the state government was focussing on ensuring 75% of jobs to only locals.

Jagan announced that the establishment of four new ports and nine fishing harbours would give a big push to the industrial sector in the state. “For every 50 kilometers, there will be one port or harbour. This will increase exports by 10% from the state. We are also establishing three industrial corridors, to generate huge employment,” he said.

He reminded that in the last three years, there were massive investments from some big industrial players like Century Plywood and Shree Cement in the state. The prestigious Adani Data Centre too is also likely to be launched in Visakhapatnam next month, he said.

The chief minister appealed to all the top industrialists in India and the world to explore investment opportunities in the state and assured cooperation at all levels on part of the government.

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