Hyderabad: In the footsteps of Hero Motors, TVS and Toyota are likely to set up units in Andhra Pradesh. The state government is in discussions with various companies for setting up units in AP.
Sources said TVS and Toyota have in principle agreed to set up their units in the state. TVS has proposed to set up its unit at a cost of Rs 1,200 crore whereas Toyota has proposed to set up its unit at a cost of Rs 3,000 crore. AP government representatives have had discussions with the representatives of both companies.
The government has offered land to both the companies wherever they want. The government has also offered many concessions to the companies. During his Japan visit, Mr Naidu will discuss with Toyota representatives about setting up of its unit in Andhra Pradesh and take a final decision.
A government official said that they have taken a decision not to reveal their deliberations with various companies till they sign memorandum of understanding. He said if they reveal their deliberations, other states may take the investors away.
