Hero prefers Andhra over Telangana/ Hero invests Rs 2200 Crore in Andhra/ Telangana lost Hero to Andhra
After scouting locations in both Telangana and Andhra Pradesh, Hero MotoCorp, leading motorcycle production company, has made its mind to set up its greenfield twowheeler plant in the truncated Andhra Pradesh. Hero MotoCorp is going to sign an MOU (Memorandum of Understanding) with AP government on Tuesday regarding the same. The State government has come forward to allot 600 acre land near Sri City SEZ in Chittoor district, corroborated Mr Parakala Prabhakar, AP Government's Advisor (Communications).
Hero MotoCorp is expected to dole out whopping Rs 2200 Crore for the twowheeler plant in phases. It is buzzed to provide employment to 5000 people directly and indirectly. This is said to be the first major investment in manufacturing sector post bifurcation. Though Telangana is keen to rope in Hero MotoCorp, the firm decided to go with AP.