The Hindu Business Line : Crisil report on AP industrial estate soon

Hyderabad, Aug. 27 The Andhra Pradesh State Financial Corporation (APSFC) expects Crisil to submit the project report on its proposed multi-purpose industrial estate in the next one month.

“Originally, the report was supposed to have been submitted to the corporation by the end of July or early August, but due the changing land use patterns in the area and also the dynamics of the area changing because of the new outer ring road, there has been a slight delay in us getting the report,” Mr A Giridhar, Managing Director of APSFC, told Business Line here on Wednesday.

He added that the corporation was still hopeful of beginning work on the development of the industrial estate by the end of the year on the 271 acres provided by the State Government near Jeedimetla on the outskirts of the city.

According to current estimates, around Rs 80 crore would be required for the development of the land which has an asset value of about Rs 1,000 crore.

The industrial estate is expected to cater to the needs of the small and medium enterprises (SMEs).

Subsidy element

The corporation expects to get subsidy from the Central Government for the development of the estate. Mr Giridhar also said that Small Industries Development Bank of India (SIDBI) has agreed to provide Rs 100 crore loan or pick up equity in the proposed industrial estate.

According to him, Crisil officials have surveyed the area thrice and have collected the necessary data.

Mr Giridhar also said that APSFC hopes to cash in on opportunities being presented because of the development of the various special economic zones in the State.

More Stories on : Infrastructure | Industrial Policy | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page