VIJAYAWADA: The State government has signed an MoU with Veera Vahana Udyog Private Limited for setting up of an electric bus manufacturing unit in Anantapur district.
Speaking to the media on Thursday, Industries Minister Mekapati Goutham Reddy said as per the agreement, the firm will invest Rs 1,000 crore on the plant in the first phase. The plant with a capacity to produce 3,000 buses per year, will come up in 120 acres. "We have offered nominal incentives to the firm, besides providing infrastructure facilities," he said.
Refuting the allegation of the opposition parties that investors were backtracking on setting up of units in AP, he said there was no truth in it. "The government will soon come up with a report with particular reference to investments attracted by the State during the past six months," he said.
Goutham Reddy rubbished the reports that Reliance and Adani groups had dropped their investment plans in AP. In fact, there was some legal dispute with the land allotted to Reliance near Tirupati for the electronics park. "We are now allocating alternative land for the establishment of Reliance electronics park," he added.