Gulte Movie News And Politics
Andhra Pradesh is drawing investments from prestigious automobile and IT companies alike. Royal Enfield has expressed intention to invest Rs 2,200 crore and establish its manufacturing unit at Satyavedu in Tirupati district. The unit would provide jobs to 3,000 people in the automobile sector.
The government has agreed to provide incentives worth Rs 1,486 crore, including 267 acres at Satyavedu.
The company has decided to invest in the state in two phases. The first phase of the unit would be completed by 2029 while the second phase would be completed by 20232.
Royal Enfield already has two factories near Chennai. South Korean automotive giant and subsidiary of Hyundai Motor Company had established its state-of-the-art manufacturing facility in Penukonda, Anantapur district, in 536 acres.
IT produces 3,00,000 units annually and provides direct employment to 3,000 people. More than 7,000 indirect jobs had also been provided by Kia Motors.
Tags Royal enfield
