Vijayawada, October 11: Minister for major industries Kanna Lakshminarayana laid the foundation stone for a special purpose vehicle (SPV) unit at Veerapanenigudem in Gannavaram mandal of Krishna district today.
The Mithra group, dealers in passenger cars and commercial vehicles, and Japan’s leading special purpose vehicle manufacturer Kyokuto Kaihatsu Kogyo have entered into a joint venture for setting up the SPV unit.
Speaking on the occasion, Lakshminarayana promised all necessary help from the state government to the new joint venture as it would promote industrial growth in the region. The company should expand its activities to bus manufacturing also to generate more employment to local people, he said.
Pinnamaneni Siddhartha Institute of Medical Sciences director general C Nageswara Rao presided over the programme.
–Agencies