Hero MotoCorp Ltd., India’s largest manufacturer of two wheelers, is mulling the conversion of its proposed manufacturing plant at Sri City in Andhra Pradesh as a key export hub, said a top official.
“Initially, this new facility at Sri City near Tada will focus on catering to the domestic market’s demands,” said Pawan Munjal, chairman, managing director, and CEO, Hero MotoCorp. “Later, it will start exporting. [This plant] will manufacture our line of products [being made in other plants currently] as well as new mobility solutions for the future.” On Friday, Andhra Pradesh Chief Minister N. Chandrababu Naidu laid the foundation stone for the ₹1,600 crore manufacturing facility spread over 600 acres. He termed it a ‘historic day’ for Andhra Pradesh as it bagged the Hero MotoCorp project amid stiff competition from neighbouring States. “People of our State are going to benefit immensely from this venture, as Hero will bring world-class manufacturing practices, new modern technology and global systems and processes in Andhra Pradesh. This yet again establishes Andhra Pradesh as the preferred investment destination in the country for large corporates,” Mr. Naidu said.