Hyderabad, November 09: Andhra Pradesh government would adopt a multi-pronged strategy to promote industrialisation in the state in a big way, Chief Minister K Rosaiah said on Sunday.
The government was providing various subsidies and incentives to help industries become competitive and still the power tariff is being maintained at the lowest level in comparison with several other states, a release from the Chief Minister’s Office quoted him as saying.
Rosaiah would undertake a review on industrialisation in the state soon and asked Industries department officials to submit a detailed status report on the matter, it said.
The government was providing a slew of incentives like power subsidy of 75 paisa per unit, single window clearance, capital subsidies for small scale and other industries, Rosaiah said.
In addition, the government was providing world-class infrastructural facilities to make the state the manufacturing hub for national and international companies, he reminded.
For the benefit of handloom weavers and leather industry, textile and leather parks were being set up in all regions of the state.
The state has made rapid progress on the industrial front in the last few years, Rosaiah noted.
During the last three and a half years, Rs 12,350 crore worth of investments in manufacturing sector were commissioned creating employment for 1,72,616 people. In the next two to three years, Rs 38,671 crore are likely to be invested creating an employment potential of 1,30,458, he said.
According to a CII survey, Andhra Pradesh is the best performing state in the manufacturing sector among southern states.
Realising the natural gas potential in Krishna-Godavari basin, the region from Visakhapatnam to Kakinada has been promoted as a major industrial corridor.
The release said the Union Minister of State for Steel A Sai Pratap has requested the Chief Minister to lay the foundation stone for a ferro alloy unit at Bobbili in Vizianagaram district. The project, with an initial capital of Rs 200 crore, would be established by Rashtriya Ispat Nigam Ltd, Visakhapatnam in association with Manganese Ore India Ltd, Nagpur.
Hyderabad international airport, Fab City, Hyderabad Gems and Jewellery Park, ICICI Knowledge Park, Biotech Park, IT Parks, Textile Park and Pharma Park are some of the prestigious industrial projects coming up in and around the state capital, the release added.
-Agencies