India (IMI) has signed a Memorandum of Understanding with the Government of
Andhra Pradesh to facilitate investment by its suppliers in the state of Andhra
Pradesh under the Automobile and Auto Component policy 2015–20.
setting up its plant in Sri City, Chitoor District, Andhra Pradesh. Seven auto
component companies nominated by IMI have signed a MoU with the state
government and hence will receive various incentives and concessions from the
state government for promoting automotive manufacturing in Andhra Pradesh.
These auto component companies will explore possibilities of appropriate
investments in the state in order to cater to the future requirements of the
OEMs who will set up their manufacturing facilities in the region.
Kikuchi, Managing Director, Isuzu Motors India signed a MoU with the state
government in the presence of N. Chandrababu Naidu, Chief Minister of Andhra
Pradesh, key dignitaries of the state and key officials from various auto
“We are extremely pleased with the developments and we believe the policy for
Automobile and Auto Components 2015-20 will immensely benefit the automobile
sector, going forward. While Automobile and Auto Component manufacturers will
benefit from the advantages laid out by the policy, it will also attract
substantive and qualitative investment into the state. The policy is a win-win
situation for investors and the state”
Caption: N. Chandrababu Naidu, Chief Minister of Andhra Pradesh
and Takashi Kikuchi, Managing Director, Isuzu Motors India at the MoU
signing with the Andhra Pradesh government
stated that the company is also in the process of tying-up with various
component manufacturers across India towards its goal of achieving 100pc
localisation for its products to be manufactured from its upcoming plant in Sri
that the company had acquired 107 Acres of land in 2013 after signing a MoU
with the Andhra Pradesh State Government in order to start automobile
manufacturing operation in India. This new facility is likely to commence
commercial operations by early 2016, with the initial production capacity at
50,000 units/ year. Isuzu will scale up the production capacity to 120,000
units/ year, with the accumulated investment of Rs. 3,000cr. and is expected to
generate 2000 - 3000 jobs in the area.
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