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APSEZ clocks Rs 5,425-cr turnover
APSEZ clocks Rs 5,425-cr turnover
Andhra Pradesh Industrial Infrastructure Corporation Multi-Product Special Economic Zone (APSEZ) at Atchutapuram, about 50 km from here has clocked a turnover of Rs 5,425 crore during 2020-21 recording growth in exports by 22 per cent over the previous year
Visakhapatnam: Andhra Pradesh Industrial Infrastructure Corporation Multi-Product Special Economic Zone (APSEZ) at Atchutapuram, about 50 km from here has clocked a turnover of Rs 5,425 crore during 2020-21 recording growth in exports by 22 per cent over the previous year. The SEZ comes under the jurisdiction of Visakhapatnam SEZ (VSEZ), Duvvada. SEZs in AP, Telangana and Chattisgarh are under the jurisdiction of VSEZ set up by the Ministry of Commerce. APSEZ has attracted investment from ferro alloys, pharma and chemical units.
VSEZ Development Commissioner A Rama Mohan Reddy told Bizz Buzz that APSEZ has put up an impressive show during the 2020-21 notwithstanding the challenges posed by Covid-19 pandemic. APSEZ achieved a turnover of Rs 4,441 crore during the previous year. He said in the past five years the exports have increased by 236 per cent. APIIC Multi Product SEZ was notified as multisector SEZ, by the Ministry of Commerce on April 12, 2007 in an area of 782 hectares, which is looked after by the AP State-owned developer APIIC.
It comprises processing area of 759.44 hectares, non-processing area 23.16 hectares. After allotment of an area admeasuring 264.38 hectares, the remaining land has been earmarked for basic amenities and allotment of plots for new units in future. At present, the zone has 18 units out of which, 12 are functioning. One unit, Tuf India
Limited, is under rapid revival stage. The remaining five units are under different stages of implementation. Reddy said the 12 manufacturing units located in the zone are producing ferro alloys, pharma, chemicals and bulk drugs and engineering items. Rain CII Carbon (Vizag) Limited is under active implementation stage with an investment of Rs 650 crore.
