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Andhra Pradesh: Centre gives nod for YSR EMC-2 scheme in Kadapa, sanctions Rs. 350 crore as grant
Andhra Pradesh: Centre gives nod for YSR EMC-2 scheme in Kadapa, sanctions Rs. 350 crore as grant
The centre has issued final approvals for the construction of the YSR Electronic Manufacturing Cluster (YSR EMC) at Kopparthi of Kadapa District under EMC-2 scheme.
The centre has issued final approvals for the construction of the YSR Electronic Manufacturing Cluster (YSR EMC) at Kopparthi of Kadapa District under EMC-2 scheme. The centre for Software Technology Parks of India (STPI) has written to the Special Principal Secretary, Ministry of Industries and Investment, sanctioning Rs 350 crore in the form of a central grant for the project, which will be developed on 540 acres at a total cost of Rs 748.76 crore.
For this, if the state government opens an escrow account and deposits the state share, while the centre will release the sanctioned amount in three installments. The Center said in the order that after the development of the YSR EMC, companies in the electronics manufacturing sector would have 347.40 acres available for sale or lease to set up units and build ready-to-build factory sheds on 92 acres. The state government submitted the DPR to the centre in October last year seeking permission to set up the YSR EMC. Officials are happy that the final approvals will be received within four months.
Dixon Technologies India Ltd will invest Rs 300 crore as an anchor company in YSR EMC, the orders said. 70 acres will be allocated to Dixon Technologies. It is learned that on the 9th of this month, the company representatives expressed interest in investing in Kopparthi with Chief Minister YS Jaganmohan Reddy at the camp office. Now that the Center has given final approval to YSR EMC, the state government will soon sign an agreement with Dixon Technology as an anchor company, APIIC officials said. Companies such as Avenge, which makes lithium batteries, and Ronu, which makes PV modules for solar power, are already in preliminary talks to invest in Kopparti EMC.
APIIC is heading for the launch of YSR EMC in the coming months. It has already undertaken work on four ready-to-work sheds, interior roads and arches at a cost of Rs 50 crore. Of this, construction of two sheds has been completed and work on two more sheds is half complete, officials said. The companies set up here are developing EMC with all the facilities on a ready-to-work basis so that they can start production directly from the day of arrival.
A total of 34 modules (ready to work sheds) are being developed for this purpose with 30 modules in an area of 50,000 square feet and four modules in an area of 2.2 lakh square feet are being set up. The YSR EMC is expected to invest around Rs 10,000 crore and employ one lakh people. It is learnt that the state government has already issued orders giving special incentives to companies set up here to attract investments in YSR-EMC.
