VISAKHAPATNAM: The first Flatted Factory Complex (FFC) in Andhra Pradesh is set to come up in Visakhapatnam soon. Although six districts have been identified for establishing the FFCs, the first unit will be set up in Vizag. The State’s first FFC will come up at the Pedagantyada industrial estate, and the second complex will be located at Kanamam near Anandapuram in the district.
Spread across 1.22 acres in Pedagantyada, the first FFC will have 32 industrial units of Micro, Small and Medium Enterprises (MSMEs). It will be established under the MSME infrastructure development scheme of the Union government.
A detailed project report (DPR) for the complex has already been approved. The project cost has been estimated to be Rs 7.57 crore. Of the total amount, the Central government would extend Rs 5.29 crore, while the State government will bear the remaining Rs 2.28 crore.
A special purpose vehicle (SPV) will be floated for executing the project. The MSME units in the FFC are likely to make investments to the tune of Rs 20 crore. Units for manufacturing, plastic recycling, granules and engineering will come up at the complex.
The FFC at Kanaman in Anandapuram mandal has been proposed under the cluster development programme. The State MSME Corporation has sought five acres to establish the FFC close to the Kanamam MSME Park.
Speaking to this newspaper, District Industries Centre (DIC) general manager Ch Ganapati said the proposal for the complex at Kanamam has been sent to the State government for its approval.
Elaborating on the structure of the FFC, he said the complex will be a vertical building that will accommodate MSME units on each floor. “The complex will have a common facility for industries and also provision of amenities. FFCs will soon be considered as a boon to MSMEs, startups and small budget investors considering the prohibitive land prices in and around Visakhapatnam,” he explained.
Currently, there are around 17,000 MSMEs, which employ 1.25 lakh people, in the Visakhapatnam district, he pointed out.