Vijayawada: The Andhra Pradesh government is expecting Rs 5,000-crore investments in the food processing industry by 2020. It also aims to create 50,000 jobs in the sector in the state over the next five years.
State Chief Minister N Chandrababu Naidu on Wednesday released the 'Andhra Pradesh Food Processing Policy 2015-20' at a networking conclave between Japanese and domestic food processing industry'. The new policy aims to set up integrated food processing parks in all districts.
As per the policy, each park will be set up in a minimum of 30 acre land and also with a minimum of 10 processing units. The state government has promised to provide 50 per cent of financial assistance for setting up of the park with a limit of Rs 20 crore.
Power for food processing units will be supplied at Rs 1.50 per unit. The government also promises to provide capital and interest subsidy and announced to provide 25 per cent capital subsidy for processing units limited to Rs 5 crore, as per the policy.
On exports, 30 per cent of road transport charges will be reimbursed with Rs 5 lakh limit per annum for a period of 3 years.
Naidu asked Japanese food processing industrialists to consider Andhra Pradesh as their second home and utilise all opportunities and resources available in the state. He said the state government is committed to promote food processing industry.
