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Hyderabad Jan. 21 The Andhra Pradesh Government has okayed the proposal by EBC Bearings (India) Ltd to establish a Vendor Park, in association with the European Bearing Corporation, Moscow and its associates.

The company, which also plans to set up a plant for large size bearings, has requested for allotment of 50 acres of land near Adibhatla village of Ibrahimpatnam Mandal, in Ranga Reddy district.

LAND ALLOTTED

The State Government has allotted 50 acres of land at the rate of Rs 30 lakh per acre to EBC Bearings and issued the necessary Government Order. The Cabinet, which met on January 20, gave its nod to the decisions.

The Vice-Chairman & Managing Director, AP Industrial Infrastructure Corporation Ltd (APIIC), had reported to the Government that the Corporation acquired about 744 acres of land in Adibhatla village for a Hardware Park expansion. Of this, about 400 acres was earmarked for IT companies.

The State Government, in consultation with the Finance Department and the report of the APIIC on the availability and price, decided to give its okay to the proposal.

SOPS TO GOVT STAFF

In another decision, the Cabinet approved sanction of enhanced Dearness Allowance at the rate of 4.71 per cent of basic pay and cumulative rate of 18.84 per cent of basic pay with effect from July 1, 2006 to the State Government employees, employees of local bodies, full time contingent employees, employees of aided institutions and Universities an also to the State pensioners. The total financial commitment due to this decision would be Rs 501.93 crore per annum.

More Stories on : New Projects | Policy | Bearings | tings & Forgings | Andhra Pradesh

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