The Andhra Pradesh Government on 27 April 2010 cancelled the MoU with the UK
based Caparo Group and permitted the Andhra Pradesh Industrial Infrastructure
Corporation to cancel the land allotment order of 2,000 acre, as it has failed
to start the project as per schedule.
The Caparo Group had signed an MoU with the state government in 2008 to set
up an industrial park for automotive industries, engineering and aerospace near
Naidupeta in Nellore with an estimated investment of Rs 3,500 crore.
The company was allotted 2,000 acre for the proposed park and also offered a
14-year tax holiday and other incentives. However, since the ground breaking
ceremony in April 2008, there has been no activity on the field.
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