The Hindu Business Line : Optimism on Volkswagen setting up unit in Vizag

THERE is a great future ahead of Visakhapatnam on the industrial front as many major companies, such as Volkswagen, are expressing willingness to set up units here, the State Heavy Industries Minister, Mr B. Satyanarayana, has said.

He was talking to presspersons here on Tuesday after visiting the local industrial estates and interacting with the local entrepreneurs.

The Minister said Volkswagen would set up the car manufacturing unit here. However, the formal announcement would be made later after finalising all the details, he added.

He said it was the target of the Congress Government to develop industries in the State with an outlay of Rs 5,000 crore during its tenure of five years. "The Government is monitoring all the units and we have sent special study teams to analyse the causes for sickness and suggest steps for revival of the units," he said.

He said he had taken cognisance of the complaints of local entrepreneurs that even though there was a major steel plant here, not many ancillaries had come up in the State.

"There have been complaints that the plant is sourcing the components from other States, ignoring the local entrepreneurs. I will take up the issue with the CMD of the plant," he said.

He said that there need not be any apprehension over pollution that might be caused by the pharma city. "We have taken all possible pollution control measures and only then have we given permission to the units. Forty companies have so far come forward to set up units," he said.

He said the entrepreneurs had sought sales tax reduction, property tax cut and other incentives from the Government. They would be considered.

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