Visakhapatnam, August 17 (The South India Times): Chief Minister YS Jagan Mohan Reddy has said that the state is rapidly progressing towards industrialization with major Corporates looking towards Andhra Pradesh. Speaking after inaugurating the first phase of ATC Tires Private Limited’s unit at APSEZ in Achutapuram of Anakapalli district on Tuesday, the Chief Minister said that ATC Tires, a Japan-based Yokohama Company, has begun production in just 15 months and the second phase is likely to go into steam by August 2023.
He said the Company stands in fifth place in the world ranking and is likely to move to the third spot soon. Reddy added such a Company coming to the state is a happy sign. In the first phase, the Company has invested Rs 1,250 crore providing employment to over 1200 people.
In the second phase, employment would be created for over 800 people. During the past three years, an investment of Rs 39,350 crore has come through 17 large-scale industries and 56 major industries would be set- ting up units in the state in the coming two years, he informed, explaining that in the MSME sector, 31671 industries are investing Rs 8,285 crore. A revival package of Rs 1463 crore was given to MSMEs, the Chief Minister said. Earlier, Adani was just a name but after YSRCP came to power both Adani and Ambani have been looking towards AP, Reddy said.
In all, 1.54 lakh crore is coming in as investments providing employment to over 1.64 lakh people, he said. Within two months Adani Data Centre is coming up at Vizag and locals will get 75 percent of the jobs, Reddy said.AP is the only state with three industrial corridors and nine shipping harbors coming up, he informed.
In exports as well, the state is poised for a big leap from 2 percent to 10 percent of the National average, the Chief Minister stated, adding that for three consecutive years the state has been on top of the Ease of Doing Business list. He assured the industrialists that the state government will extend full cooperation if they come forward. State Ministers P Rajanna Dora, B Mutyala Naidu,G Amarnath, Party MLCs, and MLAs were among those who attend- ed the program.
