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Our Bureau

Hyderabad, Sept. 26 With a number of plum projects on hand, the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has set its eyes on hitting the $1-billion (about Rs 4,000-crore) mark for the current financial year.

The State run agency registered a turnover of Rs 1,350 crore for the first half of the current financial year as against Rs 340 crore in the same period last year, said Mr B.P. Acharya, Chairman and Managing Director.

Speaking at the foundation day of APIIC here on Wednesday, he said the corporation would float a joint venture with the University of Hyderabad to develop a centre of excellence on the lines of MIT (Massachusetts Institute of Technology).

Meanwhile, the Corporation signed a MoU with AP State Cooperative Marketing Federation (AP Markfed) to develop an Information Technology Park at Karimnagar.

The Markfed would allot 38 acre for the purpose, it was announced.

Dr J. Geeta Reddy, Minister for Major Industries, said that women entrepreneurs would be allotted one-tenth of land in industrial parks developed by the corporation.

More Stories on : Infrastructure | Andhra Pradesh

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