June 2nd is the appointed day of which Andhra Pradesh and Telangana came into existence. On June 2nd this year, we are arriving at three years of the State Division. Call it a coincidence, the first major industry to AP after the bifurcation will have its foundation that day.
Hero Motocorp will be laying the foundation stone for its new plant near Sri City on that day. The Plant construction is delayed till now as the land allotted to the plant got entangled in legal hurdles until now and finally they are cleared.
The plant coming up will have an annual capacity of 1.8-2 million units and the company is planning to invest 1600 Crore for the plant. This legal tangle delayed the construction by about a year. Hero Motocorp plans to complete the first phase by 2018 and it will create employment for 6500 people with 1600 Crore investment.
