Hyderabad: On the recommendation of the State Investment Promotion Board (SPB), the Andhra Pradesh government on Thursday issued orders approving the memorandum of understanding with M/s Hero MotoCorp and also to extend the incentives and concessions to M/S Hero MotoCorp Limited to set up a facility to produce two-wheelers and its parts in Chittoor district.
The AP industries department issued a Government Order on Thursday stating certain incentives were being extended under Industrial Investment Promotion Policy 2010-15 to M/s Hero MotoCorp Limited.
It may be mentioned that the Andhra Pradesh government had entered into an MoU with Hero MotoCorp on September 16, 2014, for a proposed two-wheeler manufacturing facility in Chittoor district with an investment of Rs 1,600 crore and another Rs 1,600 crore investment in the development of ancillary units with a potential to create employment for 15,000 persons.
