Yokohama off highway tires (YOHT) recently started operations at its state-of-the-art green field facility in Atchutapuram, Visakhapatnam.
Built in a record time of 15 months ahead of its 30 month schedule the plant has made an investment of Rs 1250 crores in phase 1 with a capacity of manufacturing 69 rubber tonnes a day. The construction of phase 1 of the plant started in Feb 2021.
Unveiling the phase 1 of the plant the management informed the Chief Minister, Mr Jagan Mohan Reddy that the company looks to employ over 1000 people in phase 1.
Yokohama off highway tires is a fully owned subsidiary of The Yokohama rubber company, Japan wherein more than 95% of its products are exported.
Unveiling the plant at Atchutapuram the company heaped praises on the state government for providing full support in getting their plant ready in record time.
‘Its no surprise that Andhra Pradesh is ranked number 1 in the ease of doing business. We have experienced this first hand’ said Mr Nitin Mantri, CEO Yokohama Off highway tires. The company’s COO too lauded the government’s proactive stance for attracting investments. ‘We have had great interaction and support from the GoAP. We never felt like we were in the government’s office. I have interacted with many governments and my experience with the government of AP has been extremely refreshing. There is a great deal of bureaucratic support available in AP’ said Mr Anil Gupta, COO. Speaking on employment opportunities the company informed that preference will be given to locals. ‘We have made a commitment to the chief minister on this and we will be hiring local people 75% or higher’ said Mr Mantri.
Addl Rs 1000 cr Investment.
The company further announced the inauguration of phase 2 with an additional investment of Rs 1000 crores thereby enhancing total employment to over 2200 people. At the completion of phase-II the company’s capacity will go to 132 tonnes per day. The Sr. management of the company stated that this will be one of the best plants in the off-highway segments & will be a key plant in their global ambitions.
YOHT’s AP Plant:
- Phase-1 Investment: Rs 1250 crs
- Capacity: 69 rubber tons/day
- Phase-II Investment: Rs 1000 crs
- Capacity: 132 Rubber tons/day
- Total Employment: Over 2200 people