Rockman Industries Ltd, an auto components manufacturer, will up an aluminium die-casting plant in Chittoor district of Andhra Pradesh with an investment of Rs 540 crore.
Chief Minister N. Chandrababu Naidu on Thursday accepted their proposal. The proposed investment will be made over six years, generating 1,600 direct jobs.
V. Veerappan, Director of Rockman Industries, met Naidu in the presence of Andhra Pradesh Economic Development Board (APEDB) CEO Jaasthi Krishna Kishore and discussed the proposal for the production of die-cast parts along with other components for the two and four-wheeler market.
The expected turnover from the facility would be around Rs 600 crore per year, said a statement from the Chief Minister's Office.
A part of Hero Group, Rockman manufactures motorcycle parts and four wheeler alloys at their plants in Ludhiana, Bawal and Chennai. It has a turnover of Rs 2,105 crore and employs over 4,000 people throughout India.
--IANS
ms/pgh/dg
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app