There are several multi-product special economic zones in Andhra Pradesh which have the potential to attract investments on a large-scale in different sectors, according to S Kishore, Development Commissioner of Visakhapatnam Special Economic Zone (VSEZ) at Duvvada near here.
Kishore, who is in-charge of the 109 SEZs in AP, Telangana and Chhattisgarh, was speaking at a roadshow organised here on Thursday by the VSEZ and the Confederation of Indian Industry (CII) to promote SEZs in AP.
He said there was only one SEZ in Chhattisgarh, promoted by Lanco, and the rest were in AP and Telangana. "The SEZs in the three states have so far attracted investments to the extent of Rs 31,500 crore and the exports during 2013-14 amounted to Rs 32,000 crore. We are expecting 15 per cent growth in exports during the current financial year," he said and added that the export performance of these SEZs in the three states was better than the all-India average.
Kishore said most of the SEZs in Telangana were in IT and allied sectors, but "in Andhra Pradesh we have several multi-product SEZs at different places situated in the vicinity of ports such as Visakhapatnam, Gangavaram, Kakinada, and Krishnapatnam, which can attract investments from different sectors. We are making a pitch to promote these SEZs, especially in the backdrop of the bifurcation of the State."
Clearances for new units
He said the AP Government had announced that clearances for new units would be given within three weeks and therefore the entrepreneurs should make use of the opportunity. "Of late, we have got quite a few enquiries from pharmaceutical companies to set up units in AP. The State Government is making a concerted bid to promote IT industry in Vizag and other places. We also want more engineering and manufacturing units in the State," he said.
IT tower
Referring specifically to VSEZ, he said an IT tower was being built in VSEZ at a cost of Rs 45 crore and it would be completed in two years. A data recovery centre would be set up in the tower. There was also a move to close down 17 units in VSEZ which were not functioning well and the sites would be allocated to new entrepreneurs.
Later, inteacting with the media, Kishore said SEZs still remained the best bet for industrialists to set up export-oriented units in spite of the MAT issue.