Andhra Pradesh

Foreign firms keen on investing in Nellore district

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One lakh acres to be acquired for promoting automobile industry in the district

The administration has initiated efforts to identify and acquire one lakh acres in the stretch of coastal land from Krishnapatnam port to the border town of Tada in Nellore district, considering the potential the region holds for promoting automobile manufacturing units.

As this area is located close to ports and international airports, the industry is confident that the foreign companies would be keen to arrive here to set up their industries. The State government has outlined its priorities on promoting an automobile hub in Nellore district in the first of its kind policy released for the automobile sector recently.

The policy referred to how the State had lost an opportunity in spite of the locational advantages it had in giving a fillip to auto sector. During his recent visit to Japan along with Chief Minister N. Chandrababu Naidu, Municipal Administration Minister P. Narayana has found out that several companies there were showing interest in suitable, centrally located regions which are strong on the logistics front.

Stating that there are many similarities between Japan and Andhra Pradesh, Mr. Narayana said the presence of long coastlines had proved to be highly advantageous to both the places. Action plans would be chalked out to convince the Japanese and Singapore companies to come here and set up their units. During interaction with the industry and trade bodies there, the Andhra Pradesh delegation had seen a positive response from them to invest in the State.

The aspect of developing automobile sector with investments from domestic and foreign companies in Nellore and Chittoor districts has been one of the key features in the presentations made to foreign delegations. These districts have witnessed the development of many special economic zones like the Sri City integrated industrial zone.

Mr. Narayana said social infrastructure was also being developed in the region with a decision taken to acquire 150 acres for a big stadium on Podalakur road near Nellore city. Compensation was being paid at the rate of Rs. 4 lakh per acre with the total amount coming to Rs. 6 crore.

As per the policy, industrial promotion would be extended to all areas and an indication to this effect came from the efforts being made to acquire 2,600 acres in the Nellore-Kavali stretch. The big advantage of these places from Tada to Kavali was that the national highway 5 is passing through these areas. This is a big boon for the hinterland connectivity from the ports.

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Printable version | Jan 25, 2020 2:30:57 PM | https://www.thehindu.com/news/national/andhra-pradesh/foreign-firms-keen-on-investing-in-nellore-district/article6673148.ece

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