The Hindu Business Line : APIIC expects 41% surge in revenues

Hyderabad, June 22 The Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) expects revenues from various allotments to increase by 41.72 per cent to Rs 5,000 crore (Rs 3,528 crore) during the current financial year.

Addressing a press conference after a review meeting here, Ms J. Geeta Reddy, State Minister for Major Industries, Sugar, Commerce said, “APIIC during the current year would be spending around Rs 350 crore (Rs 233 crore) on infrastructure development in various industrial parks across the State.”

land bank expansion

She added that during the year there would be an addition of 25,000 acres of land bank as against 22,229 acres last year. The Corporation totally has a land bank of 1,02,034 acres, out of which 57,710.33 acres is Government land and the rest of the 44,324.29 is patta land.

“APIIC from the start of the current financial year has acquired 5,678.18 acres so far and the process of identification of more land is going on. The focus would be on acquiring dry land, and out of the total land that would be added two-thirds would be Government land,” Ms Reddy said.

The Corporation is also looking at developing new clusters for special economic zones in Karimnagar and Adilabad districts.

“One of the SEZs being planned is a Kisan SEZ in Karimnagar similar to the one that is being established by the Indian Farmers Fertiliser Cooperative Ltd in Nellore district,” She said.

Notices issued

The Minister added that acting on the notices sent by the State Government, SemIndia Fab Ltd and Nano-Tech Silicon India, promoted by Mr June Min, have started construction in Fab City located on the outskirts of the city.

“The board reviews the progress made by companies that have been allotted land in Fab City, so there is pressure on them to perform. Since there was no considerable progress by these two companies notices were issued to them about a month back,” she said.

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