The Hindu Business Line : AP CM okays Srikakulam jute park proposal

Visakhapatnam April 2 The Chief Minister, Dr Y.S. Rajasekhara Reddy, has responded favourably to the proposal put forward by the Federation of Andhra Pradesh Industries (FAPI) to set up a jute park on 150 acres and has instructed the District Collector of Srikakulam to identify suitable land, according to Mr B.V. Rama Rao, President of the federation.

At a press meet here on Monday, Mr Rama Rao, also the Chairman of Swarnandhra Jute Mill, said he had met the Chief Minister in Hyderabad last week and sought land for the proposed park, preferably in Visakhapatnam district.

"The Chief Minister has left instructions with the Collector of Srikakulam to identify the land in consultation with our federation and the site may be identified in the Ranasthalam mandal of the district," he said.

RURAL JOBS

The park would generate rural employment on a large scale, especially for women, and it would attract investments worth Rs 500 crore. At least 10 major jute units would come up in the proposed park and the rest would be medium and small units, he said.

He said the State Government's new industrial policy (2005-2010) was favourable to the entrepreneurs, but the policies of the commercial banks were not so encouraging.

"There is no encouragement to agro-based industries. The banks are refusing to lend to units, taking farm land as collateral security. Entrepreneurs from the rural areas are at a great disadvantage," he said.

He said he would visit the US in the first week of May in a delegation of industrialists along with the Chief Minister to attract NRI investment.

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