Finally the suspense is over. Andhra Pradesh Government had officially signed a Memorandum of Understanding with flagship Two wheeler Company, Hero Motocorp. Government has sanctioned 600 acres in Sri City, Chittoor district for setting up the plant of the company which will cater the needs of the company’s entire South India customers. AP will also extend 100 per cent exemption of value-added tax (VAT) on bikes made here. Power subsidy and other incentives available under the existing industrial policy were also being extended to the company
The company has revealed that it will lay the foundation stone for the project in the next month. The company will be investing 3000 Crores in this plant which will ensure 3000 direct employment and 3000 indirect employment. Hero MotoCorp is the leading two wheeler maker in the country. This is the sixth manufacturing facility for the company across the country and its first plant in the South India.
