Second Japan industrial township in Andhra Pradesh
Industries Minister Mekapati Goutam Reddy rolled out a red carpet for Japanese firms to invest in the State.
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| A+A A- By Express News Service
VIJAYAWADA: Industries Minister Mekapati Goutam Reddy rolled out a red carpet for Japanese firms to invest in the State.The State will offer special fiscal incentive packages to Japanese companies setting up manufacturing facilities in Japan Industrial Township, especially for companies shifting bases from China along with their suppliers, he said.
“We have set up a dedicated Japan Desk to handhold and facilitate Japanese businesses into AP,” he said, revealing that another Japan Industrial Township will be established in the State. Similarly, a Japanese Enclave will be constructed in 10 lakh square feet in Visakhapatnam.
Mekapati Goutham Reddy. File photo.
The Minister said the A.P. government has identified 10 focus sectors of interest for Japanese companies Minister for Industries Mekapati Goutham Reddy said the Government proposed to develop a second Japan Industrial Township (JIT) at Chittoor which is one of the nodes in Visakhapatnam-Chennai Industrial Corridor.
“The Government is offering special fiscal incentives to Japanese companies setting up manufacturing facilities in the JITs (the first one is at Sri City), especially to those shifting their bases from China along with their suppliers. As on date, about 25 Japanese companies are operating in the State.
“It recently cleared the establishment of an off-highway tyre manufacturing unit by Yokohoma Group.