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APIIC plans 2 industrial estates in Vizag

VDS Rama Raju  |  Visakhapatnam 

The (APIIC) has proposed to develop two industrial estates at Vadalpudi and Parawada near Visakhapatnam for small and medium scale entrepreneurs.
"To encourage small scale entrepreneurs we are developing 90 acres of land at Vadalpudi next to the existing Apparel Park and for medium scale entrepreneurs 260 acres of land will be developed at Parawada near the proposed Pharma City," Siddaiah Naidu, zonal manager, APIIC, told Business Standard.
APIIC has completed the acquisition of land at both the places. "We will start the developmental work at both the estates within two to three months and by the end of December we will be able to complete the infrastructural work," he added.
For land acquisition ,the government has spent more than Rs 7 crore. The corporation has estimated a requirement of about Rs 14 crore for infrastructural facilities at both the estates.
"APIIC zonal office has sent the estimate proposals for approval to the central office and after getting the clearance we will begin the infrastructural work," Naidu said.
While the plot size in Vadlapudi estate will range from one-fourth acre to one acre, in the Parawada estate it will range from one acre to five acres.
APIIC has fixed the land prices at Rs 400 per sq mt at both the estates. "We are expecting 80-100 small scale units at Vadlapudi and about 70-80 medium scale units at Parawada. We have already started allotment of land at the Parawada estate," Naidu said.
"The applicant has to pay 10 per cent of the total value of the plot at the time of application," he added.

First Published: Thu, February 24 2005. 00:00 IST