Visakhapatnam: With Visakhapatnam in the race to be the capital of Andhra Pradesh, investments are pouring in. It surely has emerged as one of the most potential business destinations as APIIC has received many applications, with majority of them being pharmaceutical companies.
According to AP Industrial Infrastructure Corporation (APIIC) in Visakhapatnam, it has received more than 50 applications in just a month’s time, of which 22 application are from pharma companies for the allotment of lands at SEZs developed by APIIC in various parts of the district.
Interestingly, majority of these applications are from pharma companies, seeking land to set up a base in the port city. The APPIC had begun receiving applications after the Parliament passed the AP Reorganisation Bill. If the proposals are cleared, investments worth over Rs 2,500 crore will be pumped into Vizag, creating considerable number of jobs for locals.
Given that the city has two sea ports and good air connectivity, APIIC is seeing prospective investors make a beeline to get lands allotted.
Moreover, the APIIC has recently denotified around 1,500 acres of the 9,000 odd acres of Atchyuthapuram SEZ and earmarked certain plots as chemical and petro-chemical zones.
The SEZ has received 22 applications from pharma companies, seeking anywhere between 2 acres and 34 acres of land.
Even companies from other industries are making enquiries on the availability of land to set up their base. “We are expecting more applications after polls. We already have good land bank spread in various parts of the district. There are also some IT MNCs that have enquired about the land availability,” APIIC zonal manager, V. Nagabhushan Reddy said.
