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Andhra Pradesh: Centre gives nod to set up Steel cluster in Visakhapatnam

Andhra Pradesh: Centre gives nod to set up Steel cluster in Visakhapatnam
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Andhra Pradesh: Centre gives nod to set up Steel cluster in Visakhapatnam

Highlights

The central government has come forward to set up a huge steel cluster in Visakhapatnam to increase export opportunities by reducing manufacturing costs.

The central government has come forward to set up a huge steel cluster in Visakhapatnam to increase export opportunities by reducing manufacturing costs. To this end, the Center has approved state proposals to set up a steel cluster on about a thousand acres at Pudimadaka near Visakhapatnam. State Industry Development Board (EDB), APIIC and a team of industry officials held talks with officials of various departments in Delhi on Monday and Tuesday to attract investment in key sectors under the Product Based Subsidies (PLI) scheme, state industry director Jawadi Subramaniam told media.

He said the proposals to set up a steel cluster near the Visakhapatnam steel plant under the PLI were explained to Steel Ministry Additional Secretary Rasika Choubey. Choubey said she had promised to co-operate in setting up a cluster at Pudimadaka in Visakhapatnam proposed by the Ministry of Industry under the Purnodaya project being undertaken by the central government. He said exports from AP would double in the next five years and the government was sharpening its supply chain and export strategies accordingly. APIIC VC, MD Raveen Kumar Reddy said the centre has agreed in principle to develop apparel parks in Anantapur, textile parks in the city as well as theme-based parks in ten sectors like food processing, auto, aerospace and engineering. Apart from these, the centre has taken note of the details of various nodes being developed as part of the industrial corridors.

Department of Promotion of Internal Trade (DPIT) Secretary Guru Prasad Mohapatra lauded the state authorities for making the state second in attracting new investments during October-December. "The reforms being undertaken by the state government for industrial development and the efforts of our state in creating a friendly environment and are appreciated by the Taiwanese India Representative Bashan," he said. He said the recent Apache investment in Kadapa district was a testament to the Taiwanese 'faith in Andhra Pradesh. The central government is expected to invest Rs. 1.46 lakh crore under the PLI scheme and is in talks with representatives of various companies to bring the bulk of it to the state, he said.

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