Taneja Aerospace set to invest in Andhra Pradesh
VIJAYAWADA: Andhra Pradesh is on track to become a major aviation hub under the leadership of Chief Minister N Chandrababu Naidu, said Minister for Roads & Buildings, Infrastructure and Investments BC Janardhan Reddy.
The TDP-led coalition government is working with dedication to foster an investor-friendly environment, attracting significant interest from industrialists and investors eager to establish ventures in the State.
In a significant development, representatives from Taneja Aerospace and Aviation Limited (TAAL) met Janardhan Reddy in Vijayawada on Thursday to express their keen interest in investing in the State's aviation sector.
During the meeting, the company presented a detailed project proposal, outlining its investment goals, and the potential for job creation and economic growth in Andhra Pradesh. The R&B Minister expressed optimism about the transformative impact of TAAL's entry into the State. The company, with its extensive experience in the aviation industry, plans to establish a manufacturing unit for 12-seater private jets, and a software development facility for aviation technology. This move is expected to position Andhra Pradesh as a key player in aircraft manufacturing, and high-tech industries.
'This is a landmark step for the State's industrial growth,' said Janardhan Reddy, highlighting that TAAL's investment marks a significant milestone in Andhra Pradesh's journey to becoming a strategic destination for investments in India. He emphasised that the State currently offers a highly conducive environment for industrial ventures, which will significantly contribute to its economic development.
The government is focused on creating employment and livelihood opportunities for the youth through investor-friendly policies and incentives. He assured the full support to industrialists and investors, stating that the government is ready to give swift approvals for setting up industries. Companies that generate significant employment opportunities will also receive substantial incentives, he explained.
The establishment of TAAL unit is expected to drive advancements in high-tech manufacturing, while enhancing skill development and job prospects for the State's youth. The company's representatives highlighted that their investment will create new opportunities for local talent, and contribute to the State's economic development. Expressing confidence, the Minister stated that Andhra Pradesh is poised to emerge as a leader in the aviation and industrial sectors.
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