Chief Minister N. Chandrababu Naidu on Thursday accepted their proposal. The proposed investment will be made over six years, generating 1,600 direct jobs.
V. Veerappan, Director of Rockman Industries, met Naidu in the presence of Andhra Pradesh Economic Development Board (APEDB) CEO Jaasthi Krishna Kishore and discussed the proposal for the production of die cast parts along with other components for the two and four-wheeler market.
The expected turnover from the facility would be around Rs 600 crore per year, said a statement from the Chief Minister's Office.
A part of Hero MotoCorp Group, Rockman manufactures motorcycle parts and four wheeler alloys at their plants in Ludhiana, Bawal and Chennai. It has a turnover of Rs 2,105 crore and employs over 4,000 people throughout India.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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