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Rs93,000 cr investments cleared in Andhra Pradesh

Rs93,000 cr investments cleared in Andhra Pradesh
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First Published: Tue, Feb 20 2007. 01 54 AM IST
Updated: Tue, Feb 20 2007. 01 54 AM IST
Hyderabad: The government of Andhra Pradesh (AP) has cleared investment proposals worth Rs93,000 crore during 2006, constituting 10.2% of the entire investment in the country during the year.
AP stands in second position after Maharashtra in attracting investments, Andhra finance minister K. Rosaiah, said while presenting the state budget for 2007-08 in the assembly.
Stating that a lot of world-class companies have offered to establish their production units in the state, he said the first-phase works of the prestigious semiconductor facility were already under way. The second phase of Fab City project will start immediately after the Centre announces its semiconductor policy.
The Apache shoe factory Tada near Nellore has already commenced production. The expansion programme of Visakhapatnam steel plant at Rs9,000 crore has already commenced. The government had cleared Rs1,200 crore proposal of MLR Motors for setting up a car manufacturing unit.
For the benefit of handloom weavers and leather industry, the government was setting up textile and leather parks, the minister said.
Focused on developing the infrastructure facilities such as power, roads and transport to global standards, the government has earmarked an amount of Rs1,750 crore for construction and maintenance of roads. Further, AP has also taken up expansion of 12 non-major ports to improve the cargo handling capacity from the existing 18 million tonnes per annum to 100 million tonnes by 2012, he said.
The government has identified 31 special economic zones for setting up of IT units in different districts and necessary infrastructure is being provided, the minister said.
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First Published: Tue, Feb 20 2007. 01 54 AM IST