Industry-friendly policies draw investors to state: CM YS Jagan Mohan Reddy

Chief Minister YS Jagan Mohan Reddy at the inaugural of the first phase of the  ATC Tires, Atchutapuram in Anakapalli district on Tuesday
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Chief Minister YS Jagan Mohan Reddy at the inaugural of the first phase of the ATC Tires, Atchutapuram in Anakapalli district on Tuesday

Highlights

Andhra Pradesh will house 56 large and mega industries in the next two years, announced Chief Minister YS Jagan Mohan Reddy.

Anakapalli: Andhra Pradesh will house 56 large and mega industries in the next two years, announced Chief Minister YS Jagan Mohan Reddy.

Inaugurating the phase-I of the ATC Tires AP Private Limited, Yokohama Rubber Company of Japan, at Atchutapuram in Anakapalli on Tuesday, the Chief Minister assured the investors and industrialists that the AP government is just a phone call away to provide all possible support to them.

The company was established at a cost of Rs 1,250 crore. Along with inaugurating the first phase of the company, the Chief Minister laid foundation stones for the second phase of the company and eight other companies, including Megha Fruit Processing Private Limited, Win Win Speciality Insulators Limited, Optimus Drugs Private Limited and Inox Air Products Pvt Ltd, at APSEZ.

The CM visited the production unit inside the company and signed on the newly-manufactured tyre. In the first phase, around 1,200 people were provided jobs, while 800 people are expected to get employment in the second phase of the project.

Speaking about the progress the state has made so far, the Chief Minister said that several companies have shown keen interest in setting up their shop in Andhra Pradesh in the past three years and thus providing thousands of job opportunities to the local youths. This apart, the CM said, the state has been ranked first in the Ease of Doing Business (EoDB) for the past three consecutive years.

Giving credit to the industry-friendly policies of the state, the CM said even top notch companies such as Adani Data Centre would be inaugurated in Visakhapatnam next month.

Further, the CM underlined the need for the locals to shoulder the responsibility and sustain the industries that have come up in the state as priority would be given to the locals in offering job opportunities.

In the past three years, the state had set up 98 large and mega industries with an investment of Rs 39,000 crore and more than 60,000 people were placed in these companies, the CM said, adding that the industry incentive arrears accumulated over the years along with new incentives have been cleared to the tune of Rs 1,463 crore.

"AP is the only state in the country that has three industrial corridors. After I took over the state as the CM, top groups such as Aditya Birla and Adani are now looking forward to investing in the state," the Chief Minister said.

Yokohama Company consul-general Taga Masayuki, ATC Tires CEOs Nitin Mantri and director Anil Gupta, Deputy Chief Ministers P Rajannadora and B Mutyala Naidu, IT Minister Gudivada Amarnath, Anakapalle MP BV Satyavathi Elamanchili MLA UV Ramanamurthy Raju, Collector Ravi Pattanshetti, among others, were present.

Later, the CM visited Visakhapatnam south constituency MLA Vasupalli Ganesh Kumar's residence at Marripalem and blessed the MLA's newly-wedded son and daughter-in-law.

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