National

VEM Technologies to set up weapons integration facility in AP

Our Bureau Hyderabad | Updated on January 17, 2018 Published on August 22, 2016

VEM Technologies, a private sector defence manufacturing unit, will set up a weapons integration facility in West Godavari district of Andhra Pradesh. The company is expected to invest Rs 2,135 crore in the facility.

According to the State Chief Minister, N Chandrababu Naidu, the Cabinet has decided to allocate 325 acres of land in Pedavegi mandal of West Godavari district to the company. It will provide direct employment to 2,000 and indirect employment to 4,000.

The Hyderabad-headquartered, defence and aerospace company has technology tie up with Lockheed Martin and will be manufacturing important compaonents to Tejas, the country’s indigenous Light Combat Aircraft (LCA), the CM told newspersons in Vijayawada while briefing about the Cabinet decisions.

Krishna bridge:

An iconic bridge on river Krishna that will connect the upcoming capital, Amaravati of Andhra Pradesh, is being built by the State Government. It will be at the confluence of rivers Krishna & Godavari at Ferry village near Ibrahimpatnam in Krishna district, which in turn is being developed as a tourist spot.

About 25 acres at the Pavitra Sangamam (confluence) will be allocated to Tirumala Tirupati Devastanam for the construction of Sri Venkateswara Swamy temple and Pavitra harati will be continued at the river bank even after the ongoing pushkaram. A 3D show also will be arranged at the site to explain the available water resources in the State.

To encourage the IT sector, the Cabinet has decided to change the IT policy. Under the new policy, the government would grant Rs 50,000 subsidy for each employment being offered by the companies. If no land was allotted for the company, the government will sanction Rs one lakh subsidy for each employment.

Chandrababu Naidu said that the Central Government should make it’s stand clear on granting special category status to AP. He said that the Cabinet has decided to follow up the issue.

Published on August 22, 2016

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