Andhra Pradesh, Nov 11 : Apollo Tyres Limited is setting up afro state-of-the-art tyre manufacturing unit in chandrababu's native place chittoor to boostup the AP's industrialisation. In New Delhi the state government and the Apollo Tyres mutually signed a Memorandum of Understanding in the presence of Chandrababu Naidu on thurday.
The Apollo Tyres has two plants in India,one is at Kerala and the other is Gujarat and at Tamilnadu.In chennai when the company held a board meeting there it tooks the decision to invest in AP.The company was planning to set up its unit in AP too.The officials from the team of Apollo visited chittoor for first hand assessment .
An amount of Rs 3,000 crore may invest by the company in phases ,as a part of first phase it setup an ancillary park of 200 acres at a cost of Rs 541 crore which is in chinnapandur village.
As Rayalaseema is a backward region which is famous for its drought conditions ,it is really a biggest Industrial investment from that company .The tyre manufacturing unit has come into hands of AP government 1000 people will get employment through it.
If it continues well in few years we can see a Swarnandra pradesh.