VISAKHAPATNAM: Chief minister YS Jagan Mohan Reddy will commission a Rs 2,000-crore tyre manufacturing plant at Atchutapuram Special Economic Zone in Anakapalle district on June 16. The Chief Minister will also lay the foundation stone and inaugurate eight new units.
According to Minister for IT and Industry Gudivada Amarnath, the plant, set up on 100 acres of land, is likely to provide employment to 1,000 local youth. Amarnath along with the district officials and industry officials visited the plant on Friday and inspected arrangements for the Chief Minister’s visit. He said this was the first industry for which land was allotted by the YSRC government commencing production.
The tyre manufacturing unit was set up by Tokyo-based Yokohama Rubber Co Ltd. This is the third plant of the Yokohama in India after its units at Dahej in Gujarat and Tirunelvi in Tamil Nadu.The Yokohama Rubber group manufactures off-road tyres, such as those used on agricultural and other equipment. The new plant will have a daily production capacity of 55 tonnes (rubber weight). The plant is being commissioned ahead of its schedule of 2023.The company has plans to expand the plant with another Rs 1,000 crore, which will create 800 more jobs.