Andhra Pradesh: 440 companies sends investment proposal of Rs.1370 crore in leather park

440 companies sends investment proposal of Rs.1370 crore in leather park
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440 companies sends investment proposal of Rs.1370 crore in leather park

Highlights

As many as 440 companies have come forward to invest in the mega leather footwear and accessories cluster being set up at Krishnapatnam.

As many as 440 companies have come forward to invest in the mega leather footwear and accessories cluster being set up at Krishnapatnam. It is noted that with an investment of about Rs 1,347 crore, 18,000 people will be directly employed and another 13,000 indirectly. Ratnakar Pachigalla, Chief Executive Officer, Krishnapatnam International Leather Complex Limited (KPILC), told that the companies had mentioned this in their proposal.

The park, which is being developed on 537 acres at a cost of Rs 281 crore, has invited bids from companies interested in setting up units till January 31, 2021 wherein 440 companies have submitted their proposals, of which 257 units have come from SC communities. '51 companies submitted proposals to set up units on three to 15 acres, while 339 companies submitted proposals to set up micro and small units.

The companies having units in Chennai and Agra along with Vietnam and Taiwan have also expressed interest in investing in Krishnapatnam Leather Park. "We have examined these proposals and sent them to the Ministry of Industries for final approval, " Ratnakar explained. Meanwhile, the Ministry of Industries has decided to conduct a study tour with the locals to allay the fears of the locals that the Leather Park will harm the environment and explain the benefits of coming to the Leather Park. This study tour will explain how locals benefit from Ranipeta in Tamil Nadu and Agra Leather Parks in Uttar Pradesh.

Ratnakar explained that after the expiry of the local election code, they would be taken on a study tour and arrangements would be made to clean up the waste coming from the units and dump it within 5.5 km of the sea.

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