STOCK MARKET BSE NSE

Naidu Inaugurates Amara Raja Growth Corridor

Published: 08th May 2015 05:59 AM  |   Last Updated: 08th May 2015 05:59 AM   |  A+A-

Naidu Inaugurates

CHITTOOR:AP chief minister N Chandrababu Naidu on Thursday inaugurated the 500-acre Amara Raja Growth Corridor (ARGC) in Chittoor district.

The facility set up on the Bengaluru-Chennai-Krishnapatnam industrial corridor is likely to attract `4,500 crore investment and create 20,000 jobs over the next 3-5 years.

The country’s second largest batteries producer Amara Raja Batteries, through one of its sister companies Mangal Industries Ltd, has already committed `200 crore investment and 800 jobs to set up a 10,000 mt plastics injection moulding facility at ARGC. This 15-acre anchor unit was unveiled by Naidu on Thursday.

ARGC will have exclusive industrial zones for storage battery units, electrical components, automotive batteries besides others and the company is in dialogue with domestic and international companies to start operations here.

“Investors are asking for land only in Tirupati, Nellore and at the new capital Amaravati. This (ARGC) facility in Nunegundlapalle village goes on to show that quality will attract multi-nationals to villages,” Naidu said adding that facilities encouraging manufacturing such as Sri City SEZ, availability of seaports, international airports and broad-gauge rail line will help AP evolve on the global manufacturing map.

“AP will emerge as the logistics hub and gateway for India due to port connectivity that helps companies to export,” he said adding that the state will evolve as one of the top 3 destinations in the country by 2022.

Meanwhile, Naidu, who also commissioned Amara Raja’s second automotive battery plant, said the facility was on a par with international standards and employs over 12,500 overall including 3,500 women.

Global Player

Chittoor: Amara Raja Batteries Ltd, the flagship company of Amara Raja Group, is targeting to emerge as the top global player for industrial batteries and a dominant regional player in automotive batteries in few years, according to Jaydev Galla, vice-chairman & managing director, of Amara Raja.

Currently, for industrial batteries, the company ranks number one within the Indian Ocean Rim and second for automotive batteries.

“We are one of the top 10 battery players in the world and in India we have a 50 per cent market share in telecom batteries, and 30 per cent each in UPS and automotive batteries,” he said adding the company will pursue both organic and inorganic growth.

The company employs over 2,500 in the automotive battery plant alone and is expected to scale up manpower to 8,000 in next two years, when production reaches full capacity.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp