Taiwan firm to invest Rs.6 bn in Andhra Pradesh

June 21st, 2008 - 10:20 pm ICT by IANS  

Hyderabad, June 21 (IANS) Mei Ta Group, a Taiwan-based company, will set up an auto component manufacturing base in Andhra Pradesh at a cost of Rs.6 billion ($143 million). A memorandum of understanding (MoU) in this regard was signed Saturday between the company and the state government.

The manufacturing base will come up on 230 acres at the Naidupeta special economic zone (SEZ) in Nellore district.

The MoU was signed by Mei Ta Group chairman Chen Yu San and the state’s Principal Secretary, Industries Sam Bob in the presence of Chief minister Y.S. Rajasekhara Reddy.

The company proposed to invest Rs.6 billion in a phased-manner to provide 5,000 direct and 15,000 indirect jobs, said a statement from the chief minister’s office.

Mei Ta Group was established in 1977 and has operations in Taiwan, China and France.

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