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Kiran asks APIIC to attract Rs. 1 lakh crore investment

Posted by on June 2, 2011 0 Comment

Hyderabad: The Chief Minister, Mr N Kiran Kumar Reddy, on Thursday directed the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to strive to attract Rs 1 lakh crores investments in 2011-12.

The Chief Minister reviewed the functioning of APIIC with the officials concerned in the Secretariat.

Speaking after the review meeting, the Minister for Major Industries, Dr J Geetha Reddy, said that Rs 37,000- crore investment had come to the State through the APIIC last year creating 92,000 jobs. The Chief Minister has agreed to allocate Rs 100 crores for development of Gachibowli-Hightech City-Nanakramguda road that would boost industrial growth.

The review meeting also discussed the issues concerning Special Economic Zones (SEZs) and Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), which would facilitate us to develop industrial sector in 1,000 km of coastal area of the State. She reminded that PCPIR was proposed to develop between Visakhapatnam-Kakinada, she added. The total area of PCPIR would be 803 square km, she added.

“It was decided to present the wok of preparation of master plan of PCPIR to a London-based Lia Associates. One year would be given to the company to prepare the master plan. After receiving the master plan, the government would take up land procurement for the project”, he added.

She expected that Rs 4 lakh crores investments may come to the State under PCPIR. The Chief Minister gave green signal for release of funds for roads in the proposed area of PCPIR. The Chief Minister also expressed happiness over level of imports of products of SEZs. During 2010-11, a record level of 150 per cent of growth in exports was registered. About Rs 3,000 crores of exports from SEZs have taken place in 2008-09 while Rs 5,500 crores in 2009-10 and Rs 13,300 crores in 2010-11, he pointed out.

“So far, the APIIC allotted 7,432 acres for setting up industries and extending incentives and subsidies”, she added. Dr Geetha Reddy made it clear that the government would successfully face no confidence motion, if it comes in the Assembly.

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