Pharma firms queue up for Vizag base
Investments are pouring in Visakhapatnam reason being it is in the race to be the capital of Andhra Pradesh. APIIC has received many applications, with majority of them being pharmaceutical companies, which signifies that it has emerged as one of the most potential business destinations.
In Visakhapatnam as per AP Industrial Infrastructure Corporation (APIIC),in just a month’s time it has received more than 50 applications, out of which 22 application are from pharmacy companies for the allowance of lands at SEZs developed by APIIC in different parts of the district.
Fascinatingly, bulk of these applications is from pharmacy companies, looking for land to set up a base in the port city. After the Parliament passed the AP Reorganisation Bill, the APPIC had begun receiving applications. In case the manifesto is cleared, investments worth over Rs 2,500 crore will be raised into Vizag, producing considerable number of jobs for locals.
APIIC is seeing prospective investors make a beeline to get lands allotted, considering that the city has two sea ports and good air connectivity.
In addition around 1,500 acres of the 9,000 odd acres of Atchyuthapuram SEZ and earmarked certain plots as chemical and petro-chemical zones has been recently denotified by APIIC.
22 applications have been received by the SEZ from pharmacy companies, looking for anywhere between 2 acres and 34 acres of land.
To set up their base even companies from other industries are making enquiries on the availability of land. APIIC zonal manager, V. Nagabhushan Reddy alleged, after polls we are expecting more of applications .We already have good land bank spread in various parts of the district. Some IT MNCs have also enquired about the land availability.
Source: Deccan Chronicle
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