Andhra Pradesh Chief Minister Chandrababu Naidu had laid the foundation stone for a manufacturing plant of Apollo Tyres which is being developed with an investment of 1200 Crore in Chittoor district. This project is expected to generate employment for a total of 1350 people.
Once completed it will be the largest plant of Apollo Tyres in the country. The state government had allotted 260 acres of land in Chittoor district. Andhra Pradesh government is charging 11 Lakhs per acre from the company for the land allotted.
The state government has also extended various other incentives to the company for this investment. Telangana, Tamil Nadu, and Karnataka lobbied really hard to get the project but at the end, Andhra Pradesh managed to get it with a lot of pursuances.
