State Investment Promotion Board has approved investments of 69 mega projects which entail a total outlay of Rs 1,33,000 crore.
Andhra Pradesh Chief Minister N. Kiran Kumar Reddy today said that his Government was hopeful of attracting a two-wheeler manufacturer to set up a base in the State.
"By doing so, we will be completing the entire loop right from manufacture of cabins for helicopter through projects for Sikorsky, and Lockheed Martin, tractor and passenger vehicle unit by Mahindra & Mahindra and now a sports utility and light commercial vehicle unit by Isuzu Motors," he said.
Speaking at the ceremony where Isuzu Motors signed up with the State Government and Sri City for a manufacturing unit, the Chief Minister said he was present at the inauguration of the Sikorsky unit, M&M unit and now at Isuzu agreement and was hopeful that he would be there to inaugurate the manufacturing unit to be set up by Isuzu within two years.
On a day when the State Legislative Assembly has taken up no-confidence motion, the Chief Minister’s assertion that he will be there for inauguration of the Izuzu plant meant that he expects to return back to power after elections next year.
The Chief Minister said that the State Investment Promotion Board has approved investments of 69 mega projects which entail a total outlay of Rs 1,33,000 crore and provide employment to about 1,30,000 people.
"We expect to continue this momentum," he said.
Mentioning about growing investments by Japanese companies, and its agency JICA, the Chief Minister said that the Industrial corridors being set up between Chennai and Bangalore and passing through Andhra Pradesh will help attract more investments in the State.
J. Geetha Reddy, Major Industries Minister, said that the State has managed to break the jinx by attracting investments by Isuzu Motors. In spite of constant efforts automotive companies opted for other States.
She hoped the investments made by M&M in their tractor plant and passenger mover in the State and Isuzu here will pave way for more investments from the automotive sector.