VISAKHAPATNAM: Visakhapatnam Special Economic Zone’s unit approval committee (UAC) has approved the expansion and setting up of multiple projects in Andhra Pradesh and Telangana. In the virtual meetings chaired by DC A Ramamohan Reddy on Monday and Tuesday, the panel approved the expansion of Deccan Fine Chemicals with an investment of Rs 1,770 crore at Payakaraopeta in Visakhapatnam district.
Reddy said the company will generate job opportunities for 900 persons, directly and indirectly, after the expansion, and earn foreign revenue to the tune of Rs 516 crore in the next five years. It plans to produce 14 agrochemicals for their export to USA. The UAC also gave nod to the proposal for two units in TSIIC SEZ and Sundrew properties SEZ, and expansion of three units in Hyderabad.
Reddy said the UAC approved expansion of three existing SEZ units Birlasoft, Berkadia Services India and Infoesearch ITES in Hyderabad, which would result in projected consolidated export to the tune of Rs 1228 crore; and generate 1,088 jobs. The units will invest Rs 54.49 crore in the next 5 years, and are located in TSIIC SEZ Nanakramguda, DLF Infocity, Gachibowli, NSL SEZ Uppal.
He added many units were given approvals for inclusion of additional products under broadbanding, namely Divis Labs (SEZ Unit), Natco Pharma, Aragen Life Sciences and Granules Omni Chem.“The UAC also gave nod to unit II of S&S Garment Accessories India in Brandix India Apparel City SEZ, Honours Lab Limited, a unit in Hetero Infrastructure SEZ, unit IX of Hetero Drugs Limited and Dr. Reddy’s Labs.”
Project to generate 900 jobs over five years
In the virtual meetings chaired by A Ramamohan Reddy on Monday and Tuesday, the unit approval committee approved the expansion of Deccan Fine Chemicals with an investment of Rs 1,770 crore at Payakaraopeta in Visakhapatnam district