ATC Tyres Pvt Ltd has set up its manufacturing facility in Achyutapuram in Andhra Pradesh with an investment of ₹1,400 crore. Chief Minster YS Jagan Mohan Reddy formally inaugurated the facility on Tuesday.
Gudivada Amarnath, Minister for Industries, Infrastructure and Investments, Government of Andhra Pradesh said, “The plant has been set up with ₹1,400 cr investment for the first phase, in 15 months, creating employment for about 1,000 people,’’
The company would invest ₹1,000 crore in the second phase which would create employment to another 1,000, and the tyres manufactured in the unit will be exported to 120 countries, the Minister said.
With ranking top in the Ease of Doing Business Index, Andhra Pradesh government is providing all the support to the industries, and the Department of Industries was working proactively to attract investment to the State, Amarnath said. The Government had also directed to industries to provide 75 per cent of the jobs to the locals, he added.