YSR to lay foundation stone for Caparo Industrial Park tomorrow

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Hyderabad, May 7 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy would lay the foundation stone for Caparo Industrial Park in Menakur Village of Nellore District tomorrow.

Addressing a press conference along with Caparo group CEO Angad Paul, Dr Reddy said the government had allotted 2,000 acres of land for the Caparo group for the industrial park, at a cost of Rs one lakh per acre. Initially, Caparo would set up a luxury bus manufacturing plant in collaboration with Hyundai Motors of South Korea, he added.

He said the government wanted to develop Nellore district as a major growth centre because of its strategic location.

Mr Paul said Caparo signed an MoU with the Andhra Pradesh governemt in January this year for setting up an industrial park and multi purpose SEZs for the development of the State. The Company would invest Rs 3,500 crore in 15 years as per the MoU.

It would provide employement to nearly 10,000 people, he claimed, Caparo group would develop world class and other infrastructure facilities including roads, power, housing, hotels, commercial complex, academic institutions, sports complex and entertainment park.

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