In what is billed as the single biggest investment commitment in an APIIC industrial estate in the capital region of Andhra Pradesh after bifurcation, Amaravati Industries Association (AIA) is moving to set up a cluster comprising Small and Medium Scale Industries at Veerapanenigudem near Gannavaram.
AIA is floated by a group of entrepreneurs hailing from Andhra Pradesh (A.P) but settled in Hyderabad, Telangana.
The Association has lined up investments ranging from Rs.1 crore to Rs.10 crore, totalling nearly Rs. 200 crore in 71 plots spanning 85 acres being developed by the A.P Industrial Infrastructure Corporation Limited (APIIC).
AIA President A. Venkateswara Rao says the companies have expertise in manufacturing diverse products: from aerospace components to plastics and gas turbines to pellet machines.
“Most of us have 20 to 30 years experience in various businesses. Having had our education and growth in A.P., we wanted to give back for development of the State. Chief Minister N. Chandrababu Naidu facilitated our foray into this region. A.P. Non-Resident Telugu Society (AP-NRT) CEO Ravi Kumar Vemuru helped us a lot in coming here,” Mr. Rao said at a media interaction.
AP-NRT Director Murali Nannapaneni said the A.P capital region has tremendous potential for micro, small and medium enterprises.
Land remains scarce“The AP-NRT is making efforts to attract more entrepreneurs to set up their units in the new State and is playing a facilitating role”, he said. Since land is scarce, the upcoming cluster at Veerapanenigudem had to be restricted to 85 acres and areas where similar ventures could be taken up are being identified, he said.
The APIIC is set to start widening the approach road from the NH-16 and create other infrastructure at a cost of Rs. 8.5 crore to enable the companies to start their operations.
Priority is being given to this cluster, as it is transforming Krishna district, which ranks low in the small list of investment destinations in A.P, into an industrial hub. Others like Visakhapatnam, Chittoor and Nellore districts are dominant.
