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German automotive major Volkswagen AG is all ready to setup its unit in Visakhapatnam. The automotive giant is said to have identified the Special Economic Zone (SEZ) at the outskirts of Visakhapatnam city for its greenfield automotive unit.
The Volkswagen management is reportedly agreed to the state's steadfast keenness to support and facilitate their entry to the Indian shores and to possibly make this an Asian hub. The company has manufacturing base in China but sees India as having a greater potential for growth.
Earlier during September 2003, a team from the company visited Visakhapatnam in order to evaluate the region. The then Minister for Heavy Industries Mr K. Vidyadhara Rao guided the team to various regions and about the incentives from the side of Government of Andhra Pradesh.
The team visited the Special Economic Zone and Aganampudi village, some of the Schools in the Vizag Steel Plant Industrial Area, Visakha Valley School and the Visakhapatnam Port Trust. The team was also taken to Seven Hills Hospital and Apollo Hospital.
The District Collector, Mr Sunil Sharma, the Industries Commissioner, Mr Samir Sharma, and the Principal Secretary (Industries), Mr K.V. Rao, also accompanied the team.
During a press conference in August 2004, Minister for Heavy Industries, Botsa Satyanarayana confirmed that the unit will be at Special Economic Zone (SEZ) and that a formal announcement from Volkswagen will be out shortly.