Flood of investments in AP

     Written by : SMTV24x7 | Mon, Oct 17, 2016, 06:05 AM

Flood of investments in AP

Vijayawada, October 17:The special industrial policy introduced by AP Chief Minister Chandrababu Naidu is attracting several industrialists to the State. The AP government is according permission for setting up of industries within 14 days through single desk system, besides providing several incentives and other benefits.

The industrialists are ready to invest not only in industries, but also in other fields like tourism, food processing, opencast mines, underground mines etc. This not only develops the State but also generates employment opportunities. As many as 1.40 lakh persons got jobs and another six lakh may get employment once other industries start production.

Till date, industries with about Rs. 48,000 crores investment were started in the AP, a few of these started production, while some are conducting trial run. Some more industries with investment of about Rs. two lakh crore are yet to start, but the works were going on. Government permissions and subsidies were already provided to these industries.

So far, Rs. 43.66 thousand crore was invested in G1 to G2 category industries; a further Rs. 2.85 thousand crore would be invested soon; and Rs. 1,600 crores will be flowing into tourism even as the government received applications to invest about Rs. 11,000 crores.

Food processing got Rs. 357 crore investments and there are expections for another Rs. 270 crores to come up in this sector. Applications for mining worth Rs 10,000 crores were under the government?s scrutiny.