AP To Set Up Rs 1K Cr Electric Bus Unit In Anantapur

TADEPALLI: The Andhra Pradesh government has signed a preliminary memorandum of understanding with Veera Vahan Udyog Private Limited for setting up an electric bus manufacturing unit at Anantapur district, state Industries minister Mekapati Goutham Reddy said on Thursday.

Veera Vahan Udyog would invest Rs 1,000 crore in the first phase on the plant, spread over 120 acres, that would have a production capacity of 3,000 buses per annum, the Industry minister told a press conference at the Secretariat.

We have entered into a preliminary MoU with the company and the land allocation will soon be done in Anantapur district, he added. Goutham, who also holds the Information Technology portfolio, asserted that the investment climate in the state was very good and no industrialist was shying away.

He debunked reports that Reliance and Adani groups have dropped their investment plans in the state after the change of government. Both the projects are very much on. There was some issue with land allotted to Reliance that caused a delay.

We have now decided that the AP Industrial Infrastructure Corporation will first complete necessary infrastructure development (roads, water supply, etc) before land is allotted to industrial units, he added.

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