Andhra Pradesh government announces incentives package for firms in Kopparthy industrial hub
The MIH is likely to bring in an investment of Rs 25,000 crore with a potential to create 2.5 lakh jobs.
Published: 02nd December 2020 07:21 AM | Last Updated: 02nd December 2020 07:21 AM | A+A A-
Andhra Pradesh CM YS Jagan Mohan Reddy (Photo| EPS)
VIJAYAWADA: The state government on Tuesday announced a special package of incentives for industries to be set up in the YSR Jagananna Mega Industrial Hub (MIH), coming up in Kopparthy of Kadapa district.
The incentives include 100 per cent stamp duty reimburesement, transfer duty and registration fee paid on sale or lease deeds reimbursement, and 24X7 uninterrupted power supply with a reimbursement of Rs 1 per unit for a period of five years from the date of commencement of commercial production.
The MIH is likely to bring in an investment of Rs 25,000 crore with a potential to create 2.5 lakh jobs.
The industries department, in a GO issued by special chief secretary Karikal Valaven, said Kadapa, which is one of the backward districts in the state in terms of industrial development despite location advantage and availability of rich mineral resources, needs special development plans to create employment opportunities.
To utilise the rich mineral and other resources available in the region, the government had decided to develop a MIH in an area of about 3,155 acres, in the total area of 6,707.00 acres (after taking out 810 acres for EMC) in possession of the APIIC at Kopparthy, Tadigotal, Yadavapuram, Thollaganganapalli, Ambavaram and Rampathadu villages, covering Chintakomma Dinne, Vallur and Pendlimarri Mandals, in Kadapa district to promote various industries.
The proposed hub is near National Highway-40 connecting Kurnool and Ranipeta Road by 10 kms, six kilometres from the Kadapa airport, 145 km from the Renigunta International Airport and 13 km from the nearest railway station. The hub will act as a Multi-Product Mega Industrial Park, with good infrastructure facilities.
