TVS group, the $5billion diversified industrial conglomerate consisting of India’s third largest two-wheeler maker TVS Motors, is in talks with the Andhra Pradesh government to set up one of its largest forging units close to Krishnapatnam port on the state’s southern coast.
The move comes close on the heels of the state government’s efforts to make the southern Andhra region a hub of automobile manufacturing and encourage an ecosystem of auto ancillaries by offering large-scale incentives.
In September, Hero Motocorp said it will set up its largest twowheeler and spare parts production facility near Sri City integrated business city in southern Andhra Pradesh at an investment of Rs 1,600 crore.
This followed an announcement by Isuzu Motors that it will set up a Rs 3,000-crore truck manufacturing facility in the same area. “The TVS group representatives have held parleys with us several times over the last few months, expressing their interest to set up one of their largest forging units,” said P Krishnaiah, chairman, Andhra Pradesh Industrial Infrastructure Corporation (APIIC).
Venu Srinivasan-led TVS group manufactures dozens of auto components and spare parts, and exports them. Locating the proposed forging unit near Krishnapatnam port is expected to help the company in hassle-free exports to South Asian countries among others.”The TVS group delegations headed by their chairman had sought at least 60 acre of land at one of the industrial estates near Naidupet in Nellore district, which is closer to their headquarters, Chennai,” Krishnaiah told .