An MoU to the effect was signed between Hero MotoCorp and Andhra Pradesh government in September 2014. Coming up at Sri City Special Economic Zone in Madannapalem in Chittoor district, the new production facility will have initial production capacity of 5 lakh units per annum in the first phase.
Built at an investment of INR 800 crores, the new Chittoor facility will offer employment to around 1,500 people in the first phase to be extended to another 3,500 persons some time later.
Production capacities planned for the next phase stands at a further 5 lakh units in second phase by December 2020 and an additional 8 lakh units in the third phase by December 2023. Both these phases will see added investment to the tune of INR 600 crores each.
The new Hero MotoCorp Chittoor plant will be a state of the art facility with robotics and cutting edge manufacturing facilities. It will follow a green building technology and will serve as a manufacturing hub for both east and south Asia.
Besides creating direct employment at the new plant, it will also offer employment to 2,000 individuals by supply chain partners in Phase I and to 6,500 persons in the final stage. The new plant will also see the company diversify into production of three wheelers besides electric vehicles, aerospace and defence and technology via its various joint ventures.
Hero Karizma R and ZMR Dual-Tone – Photos
Via – PTI