Hyderabad (India): A Memorandum of Understanding (MoU) has been signed by Mr Chen Yu San, Chairman of Mei Ta group and Mr B Sam Bob, Principal Secretary, Industries, Government of Andhra Pradesh, for setting up an auto component manufacturing base in Naidupet Industrial park.
The MoU was signed in the presence of Chief Minister Dr Y S Rajasekhara Reddy, minister for major industries Dr J Geeta Reddy. B P Acharya, chairman & managing director, APIIC, Commissioner, Industries,
N.K.Prasad and other officials were also present.
Mei Ta Industrial Company, Taiwan will invest Rs 600 crore in a phased manner. The Mei Ta project will come up on 230 acres of land at APIIC – Multiproduct SEZ, Pellakuru (M), Naidupet, Nellore District. Of the 230 acres, 210 acres is SEZ land and 20 acres in the DTA (Domestic Tariff Area).
In order to save time Mei Ta will adopt the structure and design of its parent company in China. The first phase of operations is expected to commence next year – 2009.
This project is expected to provide direct employment to 5000 and indirect employment to 15,000 people.
The company plans to recruit engineers through campus placement and provide them training in China. After their employment at the Naidupet plant, they would be able to train the subsequent batches.
Mei Ta's proposed lines of activity include: Auto components, Foundry, Engineering Industry, Machining and Material.
Mei Ta is reported to be currently working on creating a vendor base for the components.
Taiwanese and Chinese Companies proposing to set shops in the 230 acres of land:
- Mei Ta Machining
- Streit Machining
- WAY SIA Machining equipment
- NWS Foundry and Machining
- DSP Foundry and Machining
- DALF Foundry and Machining
Though, initially, Mei Ta proposed to set up shop in the state of Maharashtra, the company opted for Andhra Pradesh attracted by the facilities it offered.