Hyderabad, Jun 21 (UNI) Taiwan-based Mei Ta group would invest Rs 600 crore in phased manner to set up an auto component manufacturing base in Naidupet Industrial Park in Nellore district of Andhra Pradesh.
A Memorandum of Understanding (MoU) to this effect was signed by Mei Ta group Chairman Chen Yu San and Principal Secretary (Industries) B Sam Bob today in the presence of Chief Minister Y S Rajasekhara Reddy and Major Industries Minister J Geeta Reddy.
APIIC Chairman and Managing Director B P Acharya and other officials were also present, a press release here said.
The facility, to be built on a 230-acre land, is likely to provide direct employment to 5,000 people and indirect employment to 15,000 people.
UNI VA VV AK1825