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Saturday, February 25, 2012

Hyundai confirms auto accessory unit in Nellore

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Nellore Several companies of South Korea, Indonesia and Singapore have expressed willingness to set up their operations in the State. Hyundai confirms auto accessory unit in Nellore

Businesses have expressed their intentions to a delegation of senior officials led by Major Industries Minister Kanna Lakshminarayana who visited these countries on a business trip in nine days. One of the main proposal was the confirmation of Hyundai Motors that it would proceed with its proposed auto accessory unit near Nellore and commence operations in mid-2012.

The delegation consisted JC Sharma, Principal Secretary (Food Processing); R. Karaikal Valaven, Industries Commissioner, Vikas Raj, Managing Director, AP State Finance Corporation, and S. Kannan, Director CII director of the Southern Region. Speaking to reporters here on Sunday, said the Minister had assured that Samsung Electronics would seriously consider a way to set up an installation of mobile phone manufacturing in the State following a letter from the Chief Minister K. Rosaiah management.

The minister said it was decided to form a consortium including the state government and public organizations / private sector business in the three countries to facilitate investment in infrastructure, manufacturing and food processing sectors.

Four South Korean companies - Mecen Ipc, Asia Cement, Electrical and Samjung Dosan Heavy Industries - offered to invest in production, cement, electronics and heavy engineering. Seven companies in Singapore have expressed interest in sourcing investments in solar panel manufacturing and electrical infrastructure.

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