Naidu loses a Hero to KCR within a fortnight
HYDERABAD: Giving a shot in the arm to Telangana, an Australian firm and Hero MotoCorp have come up with investment proposals worth around `2,500 crore. With Chief Minister K Chandrasekhar Rao showing keen interest in securing investments, the twin proposals may soon take shape and could be the first major investments in the new State.
Interestingly, the Telangana government scored over Andhra Pradesh in attracting the Hero MotoCorp. Recently, AP Chief Minister N Chandrababu Naidu had tweeted that Hero MotoCorp will set up its plant in AP.
Exactly 14 days after his tweet, a team from Hero MotoCorp visited Hyderabad to find a place for its two-wheeler manufacturing unit. The Hero MotoCorp team visited several places around the Outer Ring Road.
If it zeroes in on Hyderabad, works will start within six months to one year. 'The Hero MotoCorp is likely to invest Rs 1,200-1,500 crore,' sources in the Telangana Industries Department revealed.
'Hero is very much interested in investing in Telangana,' official sources said. This apart, the Telangana government received an expression of interest from an Australian firm, NSL Consolidated Limited, to invest Rs 1,000 crore in iron ore units. If it materialises, it may create 1,000 jobs in the State.
NSL came forward to set up iron ore pellet manufacturing units at Atmakur in Karimnagar district and at Siddipet in Medak district.
Company chief operating officer Sean Freeman called on Chief Minister K Chandrasekhar Rao at the MCR HRD here. Later, Sean Freeman said his company wants to set up units producing iron ore pellets, which would be used in the steel industry.
Around 200 million tonnes of iron ore is available in Karimnagar and Medak districts. In the first phase, the NSL proposes to start the pellets unit in Karimnagar district with an investment of Rs 1,000 crore.
KCR explained to Freeman that his government intends to use natural resources in Telangana for industrialisation and generate jobs.
News Posted: 3 July, 2014
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