ATC Tyres sets up Rs 14 bn manufacturing unit in Andhra

18 Aug 2022 CW Team

ATC Tyres Pvt Ltd has set up a manufacturing facility in Achyutapuram in Andhra Pradesh with an investment of Rs 14 billion. Chief Minster Y S Jagan Mohan Reddy inaugurated the facility this week.

Minister for Industries, Infrastructure and Investments, Gudivada Amarnath, said, “The plant has been set up with Rs 1,400 crore investment in 15 months for the first phase, creating employment for about 1,000 people.”

The company would invest Rs 10 billion 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.

Ranking at the top in the Ease of Doing Business Index, the Andhra Pradesh government was 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 industries to provide 75 per cent of the jobs to locals, he added.

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