Business Standard reported that Mahindra and Mahindra will commence production of tractors next month at its new facility at Zaheerabad in Medak district of Andhra Pradesh.
Currently, M&M has its automobile plant spread over 343.36 acres of land at Zaheerabad, 136 kilometer from Hyderabad, where its products like UV (Maxx), 3 wheelers (Champion Alfa), Light Commercial Vehicles and buses are manufactured.
It now has employee strength of 641 and a vehicle assembly capacity of 218 vehicles per day.
M&M is investing INR 300 crore on the new tractor manufacturing facility where it intends to manufacture 90,000 units per annum, providing direct employment to about 2,000 persons.
Briefing newsmen at the end of a meeting with industrialists this afternoon, Mr J Geeta Reddy minister of AP Major Industries said that contrary to claims, the state was witnessing significant growth on the industrial front.
Mr Reddy said that "Of the 115 proposals we have received during the Partnership Summit last January, 10 have already gone into production while another 73 are under implementation.’
He said that “In fact, AP's industrial growth rate in 2011-12 stood at 7.33%, as against the national average of 3.95%."
Of the 69 investment proposals cleared by the State Investment Promotion Board, headed by the CM, 21 units have already started production with an investment of INR 20,176 crore and employment creation of 41,605.
4 more units, set up with an investment of INR 3468 crore, were ready to commence production and another 40 were under implementation.
He added that "Investors from countries like Japan, the Netherlands, Sweden and Queensland are coming to the state with investment proposals. The investment scenario in the state is encouraging, compared to other states, despite recession. AP is now ranked No.3 in industrial growth after Gujarat and Maharashtra."
