Rockman Industries Ltd. to invest ₹540 crore, and provide direct employment to 1600.
The Hon'ble Chief Minister Nara Chandrababu Naidu has accepted an investment proposal from Rockman Industries Ltd., for setting up an Aluminium Die-Casting plant in Chittoor district.
Their proposed investment is ₹540 crore spread over a period of 6 years, with generation of 1600 direct jobs. In a meeting held in the Secretariat today, the Chief Minister met with V. Veerappan, the Director of Rockman Industries Ltd., in the presence of the CEO of Andhra Pradesh Economic Development Board(APEDB), Mr. J. Krishna Kishore and discussed the proposal for the production of die cast parts, machined and painted, along with other components for the two and four-wheeler market. The expected turnover from their proposed facility in Chittoor would be around ₹600 crore per year. The Chief Minister assured the investors that APEDB would facilitate the projects and iron out any issues arising in grounding the projects.
Rockman Industries is a part of Hero MotoCorp group, and presently manufactures motor cycle parts and four wheeler alloys at their plants in Ludhiana, Bawal and Chennai. It has a turnover of ₹2105 crore and is an employer to over 4,000 people throughout India. It wants to cater to the upcoming OEMs in Andhra Pradesh and a larger market segment in southern India such as Hyundai in Tamil Nadu.