AMARAVATI: Y.S. Jagan Mohan Reddy, the chief minister of Andhra Pradesh, said on Tuesday that the state is swiftly moving toward industrialization and that significant corporations are looking towards it.
A total of 98 mega industries worth Rs 39,350 crore were developed in the last three years, employing about 60,541 people. With an investment of Rs 8,285 crore, 31,671 enterprises have developed under MSMEs, generating work for more than 1,98,521 individuals.
"With an investment of Rs. 1,54,000 crore over the next two years, we hope to construct 56 new industries and create jobs for 1.64 lakh people. In Andhra Pradesh, we continue to put a lot of effort into making sure that locals get 75% of the job possibilities" he said.
The chief minister was speaking after opening the first phase of the ATC Tyres Private Limited (a Japanese company owned by the Yokohama Group) production facility at the APSEZ in the Anakapalli district's Atchutapuram.
The corporation would invest a total of Rs 2,200 crore in the construction of the manufacturing facility, pledging to create jobs for close to 2,000 people. In the first phase, Rs 1,250 crore was invested, providing jobs for about 1,200 people.
The chief minister said that the company commenced production in just 15 months and the second phase is likely to go into steam by August 2023.
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