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Anakapalle: Chief Minister YS Jaganmohan Reddy has said that Andhra Pradesh was making rapid strides in industrial development with 17 industries investing Rs.39,350 crore during the past three years while 56 major industries ready to come up with their units in the next couple of years.

Delivering the inaugural address at the ATC Tires industry in Atchutapuram SEZ here on Tuesday morning, he said that the Japanese company, ranked in fifth place in the world, could establish its tyres unit here in just 15 months. The second phase works of the unit were likely to be completed by next year, he stated.

In this context, the Chief Minister said that the MSME sector also saw 31,671 units investing Rs.8,285 crore. The government was extending assistance to sick MSME units and incentives up to Rs.1,463 crore were released for their revival, he revealed.

While in the past, people only dropped the name of Adani but now under the YSR Congress Party government, industrial majors like Adani and Ambani were looking towards Andhra Pradesh, he noted.

“The Adani data centre will be set up in Visakhapatnam in the next couple of months. Our government has also enacted legislation that 75 per cent of the jobs should be given only to local people. There are nearly one lakh small and medium scale industries in Andhra Pradesh and nine fishing harbours are under construction,” he said, and pointed out that Andhra Pradesh was the only state in the country with three industrial corridors.



Author: Howard Caldwell