The State Cabinet on Saturday decided to utilise 1,740 acres of government land in Bheemunipatnam mandal in Visakhapatnam district to develop IT and other industrial projects. The land was initially allocated to Unitech for development of an integrated Knowledge City Park at Rs. 20 lakh per acre. The company had paid Rs. 255 crore to the government.
Since the company failed to submit a detailed project report as also the bank guarantee required for the project, the government decided to cancel the agreement. The Cabinet ratified the government’s decision. It was also decided to allot 505 acres of land to Divi Laboratories from the 2,094 acres in the possession of Andhra Pradesh Industrial Infrastructure Corporation at Kakinada.
The remaining 1,589 acres would be allotted for the development of the Kakinada special economic zone project.
Giving a fillip to the efforts to promote industrial parks in Anantapur district, the government allotted 264 acres for development of an incubation park at Palasamudram mandal. The incubation centre would have facilities to manufacture semi-conductors, chips, mobile accessories, defence electronics and aviation spare parts. Being developed with an estimated Rs. 450 crore, the facility would provide employment to 2,500 people. It has been targeted for completion in five years.
In addition, the government also allotted 9.96 acres land to the Saptagiri Power Project at Naruva village in Ranasthalam mandal of Srikakulam district for setting up a chemical solvent plant. The allocation has been made at a cost of Rs. 4.3 lakh an acre.
