AP Optimistic On Industrial Investment Climate

Hyderabad: During the period 2004-07, the industrial investment in Andhra Pradesh has been of the order of Rs 10,570 crore, with the setting up of 6,092 units. In contrast, the figures for the previous three years (2001-04 during the TDP rule), were Rs 4,524 crore and the number of units opened was 5,046 units. Giving this information, the State Government has claimed that the continuing good performance and investment climate in the State is expected to make it the top destination for investments, ahead of Gujarat, soon.

I have no doubt that AP will surpass Gujarat in industrial infrastructure and investments in a host of leather, textiles, IT, automobile and Bio-technology products, said the Chief Minister, Dr Y.S. Rajasekhara Reddy, during a review meeting on the progress of SEZs held in the Secretariat today. Mr Reddy said the cement production in the State would go up from the present 29 million tonnes to 33 million tonnes with new investment in the sector. Similarly, the capacity in steel sector will grow phenomenally from 4.5 million tonnes to 18 million tonnes. The turnover in the pharma sector will also increase to Rs 20,000 crore from the present 12,000 crore in the next three years, triggering pharma export to Rs 11,000 crore from the present Rs 7,000 crore. The Chief Minister said the production levels in the textiles sector will almost double in view of the Rs 9,000 crore investments proposed in the coming years. The Principal Secretary (Industries), Mr B. Sam Bob, informed the Chief Minister that 70 SEZs have been approved for the State, of which 46 have already been notified and are being developed over 6,894 hectares at a cost of Rs 32,525 crore.

Of these, 24 SEZs have received in-principle approval and are being set up in 1,250 hectares. On completion of all the projects, the SEZs will generate employment for 25 lakh persons, of which they had already created 10,000 jobs. Multi-product SEZs are being grounded in 5,500 acres near Visakhapatnam and 8,000 acres in Kakinada.