Business Daily from THE HINDU group of publications
Tuesday, Jul 10, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 10, 2007 ePaper |
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Corporate
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Diversification AP asks Xenitis to set up small car plant
Our Bureau Kolkata, July 9 Andhra Pradesh has asked the Rs 650-crore turnover Xenitis Group to prepare a wish list for setting up its proposed small car plant in the State. Xenitis, which is engaged in the manufacture of computer hardware and components, and motorcycles, had lately unveiled plans to embark upon the manufacture of small cars. Mr K. Praveen Kumar, Sector Head of APinvest, the nodal agency of the Government of Andhra Pradesh, visited Xenitis’ manufacturing facility at Chinsura in Hooghly district on Monday and later made a presentation at Xenitis’ corporate office here. Speaking to newspersons, Mr Kumar said Xenitis had approached the Andhra Pradesh Government seven-eight months ago for setting up a semiconductor unit in the State. However, the initiative did not fructify. Later on June 29, APinvest wrote a letter to Xenitis urging it to “consider Andhra Pradesh as the destination for your new initiative of manufacturing small cars in India to enjoy the advantage of being located in the most happening State in the country”. Customised packages
Asked about the “customised packaged”, Mr Kumar said the State Government had been offering customised packages in respect of all investment proposals of Rs 100 crore and above. “It is too early to say what kind of package we can offer. Before we do so, we need to know and understand their detailed investment plans,” he said.
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