Deputy Chief Minister (Revenue) K.E. Krishna Murthy on Wednesday instructed the Revenue department and the A.P. Industrial Infrastructure Corporation (APIIC) to impose penalties on companies which took land for setting up manufacturing, processing and other units but failed to go into production.
At a review meeting along with Special Chief Secretary D. Sambasiva Rao at the Secretariat, he pointed out that thousands of acres given to industries were used to obtain loans from banks and do various businesses including real estate. It was detrimental to the economy.
APIIC Managing Director Babu A. told the Deputy CM that the government had transferred 41,838 acres to the APIIC after June 2014 for industrialisation and another 19,000 acres recently and 9,479 acres were allotted to industries. The APIIC was executing sale deeds only after the companies went into production to ensure that the land was not misused.
He said MSME parks were being set up in 1,335 acres in 31 Assembly constituencies in the first phase.
