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AP to build financial towers in Hyderabad

Also planning to set up logistics hub, truck terminal with all the amenities at Nakkala Kandriga in Nellore district

BS Reporter  |  Chennai/ Hyderabad 

The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is planning to build 'financial towers' at a cost of Rs 100 crore in the financial district, adjoining the city's IT hub, to enable more global and domestic financial services firms to locate their development centres and back office operations.

Announcing this here on Monday, major industries minister J Geeta Reddy said the corporation would mobilise the funds from internal resources as well as through bank debt. The multi-storied structure will come up on a 3.2-acre plot and will have a total built-up space of 400,000 square foot. The project consultants have already submitted the feasibility report, she said.

Among other initiatives, the corporation is also planning to set up a logistics hub and a truck terminal with all the amenities at Nakkala Kandriga in Nellore district. To be set up on 51 acres, the hub will provide required facilities for the trucks carrying containers and goods to and from Krishnapatnam port.

The is also planning to build a gaming and animation project on 30 acres at a cost of Rs 150 crore. She said the department also planned to set up one industrial park in each revenue division and one all-women industrial park in every district.

Since the launch of its online land allotment initiatives in August 2011, the corporation has so far allotted lands for industrial use totalling 2,100 acres to 516 applicants.

On the issue of land unutilised by the allottees in the state, the minister said the corporation had issued notices to 1,773 such companies involving a total allotment of 18,000 acre by the government. So far, in 67 cases, allotment had been cancelled involving a total extent of 2,947 acres for keeping the land unutilised, she said.

First Published: Mon, April 01 2013. 20:39 IST