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Hero Motor Corp Ltd to set up 2-wheeler plant in Chittoor
The State government on Sunday asked the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to execute a sale deed in favour of Hero Motor Corp Limited (HMCL) for 600 acres in Madannapalem village of Satyavedu mandal in Chittoor district on receipt of sale consideration.
Hyderabad: The State government on Sunday asked the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to execute a sale deed in favour of Hero Motor Corp Limited (HMCL) for 600 acres in Madannapalem village of Satyavedu mandal in Chittoor district on receipt of sale consideration.
The land was allocated to set up a two-wheeler manufacturing unit. According to a government order, apart from the above, the APIIC was also asked to allot 200 acres of land at Rs 10 lakh per acre for HMCL’s supply chain partners, ancillaries within a radius of 25 to 35 kms from the main project site.
Further, it has also cleared another move to have a dispute resolution mechanism between the APIIC and HMCL as it was provided for in an earlier MoU within the State. Also, the APIIC was also directed to permit diversification of HMCL’s manufacturing activity to include products like three wheelers, electrical vehicles, aerospace and defence and technology, relating to Green-tech by the company, its joint venture entities as well as its business associates.
