The country's largest two-wheeler maker Hero MotoCorp today commenced construction of new manufacturing plant at Chittoor in Andhra Pradesh entailing an investment of Rs 1,600 crore.
The facility, which will be the eighth manufacturing unit of the company, will have an annual installed capacity of 1.8 million units, to be achieved in three phases.
"When fully operational, this facility will take up our total combined installed capacity to 11 million units of motorcycles and scooters per annum, which is in line with our vision of surpassing the landmark 10-million unit volumes by 2020," Hero MotoCorp Chairman, Managing Director and CEO Pawan Munjal said in a statement.
He further said the company would also create a world class manufacturing eco-system in the region, with a base of globally-benchmarked vendors and suppliers, which will together generate over 12,000 new jobs, thereby accelerating the socio-economic progress in the state."