Hyderabad, February 28: The State government is examining a proposal of the Bharat Dynamics Ltd (BDL) to set up its units in Visakhapatnam and Nellore. This apart, the Hindustan Aeronautics Limited (HAL), based in Bangalore, has come forward to set up a helicopter manufacturing unit with an investment of Rs.625 crore. Another PSU, ECIL is also contemplating a Rs.500-crore electronic equipment manufacturing unit. BEL proposes to set up a radar testing unit in 1,000 acres at Palasamudram in Anantapur district with an investment of Rs.675 crore.
With so many projects in the pipeline — contrary to the perceived dip in the State’s traction for industries — Chief Minister N Kiran Kumar Reddy, in one single day, has cleared industrial investment proposals worth Rs.25,672.40 crore (compared to Rs.37,993 crore in major industries in the last 7 years) at the State Investment Promotion Board meeting recently.
The Chief Minister’s Office in an official release said he had cleared 25 units with an employment potential of 41,406 which will bring an annual revenue of Rs.878.30 crore, in the form of VAT, to the State Government.
In all, investments worth Rs.3,07,178 crore are either under implementation or in the pipeline.
These include BDL units in Anantapur to churn out missiles, NTPV-BHEL Power Plant Equipment Project at Mannavaram, Srikalahasthi (for which the Prime Minister has laid the foundation stone) and the Bharat Electronics Limited’s unit in Anantapur.
The average investment between 2000 and 2004 was a mere Rs.37,036 crore in major and medium industries and between 1995 and 2000, it was Rs.11,058 crore, the CMO said.
The Chief Minister directed the officials that incentives due (reimbursements of VAT etc) to the new units be cleared at the earliest.
The investments in the pipeline include Rs.50,000 crore in the next four years. Six PSUs have already submitted proposals to the government for investing Rs.44,800 crore.
The officials hope for a further hike in the investments.
The HPCL has decided to develop a refinery complex at Visakhapatnam by investing Rs.40,000 crore. The BHEL-BEL are jointly proposing to set up a Solar PV Modules Unit at a cost of Rs.2,000 crore in the FAB city and have already submitted proposals in this regard.
–Agencies