Peugeot gets Andhra govt invite!

The Andhra Pradesh government seems to be going through a ‘investment unlucky’ phase with respect to automobile manufacturers. The state had earlier failed to attract Tata Motors with respect to seeting up a manufacturing unit. Now, it has failed to garner the attention of Peugeot.

The Andhra Pradesh government seems to be going through a ‘investment unlucky’ phase with respect to automobile manufacturers. The state had earlier failed to attract Tata Motors with respect to seeting up a manufacturing unit. Now, it has failed to garner the attention of Peugeot.

According to Sam Bob, Secretary of Industries Ministry, Andhra State Government, they have offered to allocate around 800 acres of land near the Shamshabad airport to Peugeot along with a suitable package of fiscal incentives and infrastructure benefits. He further revealed that the French car manufacturer is yet furnish a detailed project report.

Peugeot have already selected Hyderabad once the task of assessing all investment friendly locations was completed. In fact, the manufacturer had been on the lookout for setting up a factory since the past couple of months. According to some reports Peugeot had approached the Tamil Nadu government first.

Industry tongues are already wagging about the Peugeot’s plans to launch low cost cars in India by 2010.  The company’s investment  is reportedly around Rs.1,500 crores.

No related posts.

No related posts.