Hero MotoCorp plans to invest nearly Rs 1,300 crore in Telangana
The largest two-wheeler manufacturer Hero MotoCorp, has sought land in Ranga Reddy district to set up it’s sixth plant, and the first in South India.
A team from the company, which visited Telangana and examined various sites, is learnt to have zeroed in on land located at Ravirala village, on the outskirts of the city. The site is along the Outer Ring Road. The team has submitted a report to the company management.
Based on the report, the company is learnt to have written to the Telangana government seeking land. The industry department sources said, the company has asked for nearly 500 acres, while the government is willing to offer 300 acres.
Though the T-government is keen to offer land in Gajwel in Medak district, the home constituency of Chief Minister K. Chandrasekhar Rao, the company preferred land along the ORR.
Hero MotoCorp plans to invest nearly Rs 1,300 crore to set up new plant which will have a capacity to produce nearly 15 lakh two-wheeler units per year. It is likely to provide direct employment to about 25,000 people, besides indirect employment to several thousands in surrounding areas.
Mahindra and Mahindra, which already has a tractor manufacturing plant in Zaheerabad in Medak, also sought additional land to expand the present facility. Both these major investment plans are likely to be cleared by the T-government soon.
Mahindra group chairman and MD Anand Mahindra, is expected to meet the T CM next week with a proposal of making it’s plant in Telangana the biggest tractor-producing plant in Asia.