APIIC eyes Rs 5000cr revenue this fiscal

The corporation would add an additional 25,000 acres to its existing land bank of 102,000 acres and spend Rs 350 crore on infrastructure development this year.

Major industries minister, J Geeta Reddy, who reviewed the operations of APIIC on Saturday, said the state had attracted investments to the tune of Rs 16,700 crore in the manufacturing sector during the last four years as against Rs 5,300 crore received during the regime of the Telugu Desam Party.

She said that the Fab City, the first fabrication industry to come up in the country, was well on course though there was a delay in the initial phase due to the delayed policy announcement from the Centre. So far, land had been allotted to 16 companies at the place. Of these, five had started construction of their units and the first unit was expected to start operation by December, this year.

Even SemIndia Corporation Private Limited, the anchor company of Fab City, was expected to complete the first module of the $100-million ATMP (assembly test, mark and pack) project by January next year.

Earlier, when SemIndia could not stick to its original project schedule, the state government had issued notices to the company that it would take back the land allotted to it. The government has leased out 100 acres to SemIndia for 66 years at a nominal rate of Re 1 a year at the 1,200-acre Fab City for its proposed semiconductor manufacturing project.

The minister said the state currently had 91 notified special economic zones (SEZs), which were projected to provide direct employment to 890,000 people and indirect employment to 1.68 million. So far, the SEZs have generated employment to 51,568.