The Hindu Business Line : Mega chemical complex to come up in Vizag

TO attract foreign direct investment (FDI) in the chemical sector, the Centre and State Government have decided to set up a mega chemical complex at Visakhapatnam.

The State Government has earmarked 15,000 acres of land for the purpose, the Chief Minister, Dr Y. S. Rajasekhara Reddy, announced at the CII (Confederation of Indian Industry) conference on `Export Excellence' here on Tuesday. Dr Reddy said the Government would promote an exclusive special economic zone for garments in the Port City.

"We will allot 1,000 acres of land for this." Stating that the State had recorded a 16.86 per cent growth in 2004-05, he said, "The total exports rose to Rs 17,974 crore from Rs 15,381 crore in the previous year."

"We are aiming at increasing exports in the areas of textiles and garments, processed foods, footwear, gems and jewellery and engineering goods," he added.

Though the share of Andhra Pradesh in India's overall exports is about four per cent, the State will try to double its performance in exports in the next few years by focussing on potential sectors.

He said the Government was contemplating setting up an exclusive gas grid for the State.

Mr K. T. Chacko, Director-General of Foreign Trade (DGFT), said the Government had set a target of doubling its merchandise by 2009. To achieve this, it is working on relevant strategies such as easing controls, reducing transaction costs and simplifying procedures.

Ms Lakshmi Parthasarathy, Principal Secretary (Department of Industries, Govt of AP), said the State Government would set up an exclusive cell for exports. The cell will expedite the processing of clearances.

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