Nation Current Affairs 12 Aug 2022 Yokohama’s ATC ...

Yokohama’s ATC tires launch on August 16 at AKP SEZ

DECCAN CHRONICLE. | DC CORRESPONDENT
Published Aug 12, 2022, 11:44 pm IST
Updated Aug 12, 2022, 11:44 pm IST
Yokohama Rubber Company of Japan, will be inaugurated by Chief Minister Jagan Reddy at APIIC Anakapalli Zone on Tuesday, August 16. (Photo: Twitter/ File)
 Yokohama Rubber Company of Japan, will be inaugurated by Chief Minister Jagan Reddy at APIIC Anakapalli Zone on Tuesday, August 16. (Photo: Twitter/ File)

Visakhapatnam: The first phase of the Rs 2,200 crore ATC tires project, promoted by Yokohama Rubber Company of Japan, will be inaugurated by Chief Minister Jagan Reddy at APIIC Anakapalli Zone on Tuesday, August 16.

The chief minister also will lay the foundation stone for eight more factories in the same zone.

ATC Tires AP private limited has been allotted 107.67 acres of land in APIIC Anakapalli zone at Achutapuram. The first phase of investment is around Rs 1384 crore. It has a potential to employ 2,000 persons. In the first phase, some 1200 persons would be enrolled, said zonal manager of APIIC, Sitaram.

A spokesperson of APIIC said 75 per cent of the jobs would be given to locals as was advised by the chief minister and 60 per cent of the total workforce would be women.

The company will manufacture radial tires, off- the-road tires and off-the-highway tires. Much of the products would be for the agriculture sector. The unit will manufacture 275 tires per day.

The chief minister will also participate in the ground-breaking ceremony of eight other units. These include the Rs 202 crore Pidilite industries that will manufacture water-proofing products, a Rs 185 crore mega fruit processing unit, a Rs 145 crore INOX air products (industrial gas), a Rs 125 crore Optimus Drugs Ltd, a Rs 107 crore Win Win Speciality insulators, a Rs 81 crore Synaptics labs, a Rs 87.7 crore Syrax Life Sciences and a Rs 68 crore Isha Resources Pvt Ltd.

Investment to all these eight units would total Rs 1,002 crore and they would create jobs for 2,664 persons.

After the commissioning of these units, the APIIC Anakapalli zone would emerge as the biggest employer in the state in a single location. The Brandix Apparel India City alone has 22,000 employees on its rolls.

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