NELLORE: The long-pending legal hurdles that stalled industrial development in the IFFCO Kisan Special Economic Zone (SEZ) for nearly three decades have finally been resolved.
With all legal complications cleared, the state Cabinet on Thursday approved an investment of Rs 870 crore for developing core infrastructure in the SEZ.
The revival of this project is expected to partly compensate for the industrial gap created after Sri City was separated from Nellore district.
The SEZ spans villages in Kodavalur mandal Regadichilaka, Racherlapadu, Boddavaripalem and in Dagadarthi mandal Choutaputtedu, Uchaguntapalem, Tadakaluru as well as North Amuluru in Aluru mandal. Nearly 30 years ago, a total of 2,776 acres was allotted for the SEZ. However, disputes over land allocation left the area unused for decades.
With the alliance government’s renewed focus, the issues have now been settled, paving the way for industrial establishment.
The Cabinet resolved to permit industrial setups by removing all legal constraints. The SEZ’s strategic location close to Nellore, along the Chennai-Vijayawada National Highway, and near the upcoming Dagadarthi airport positions it for rapid growth.
The government estimates that the region could attract investments worth Rs 9,400 crore and generate employment for nearly 70,000 people.
An ethanol plant with an investment of `356 crore is slated to come up within the SEZ.In addition, the long-awaited railway line to Ramayapatnam port is under construction.
To support future import-export operations, a multi-modal rail cargo terminal is planned near Tettu railway station.
For this, the Cabinet has approved the allocation of 153.77 acres in Chevuru village to Ramayapatnam Cargo Reception Pvt. Ltd. The Cabinet also approved the lease of 29.58 acres at Juvvaladinne Fishing harbour to Ms. Sagar Defence Engineering Pvt. Ltd.
Nellore District Collector Himanshu Shukla said the establishment of the IFFCO Kisan SEZ marks a new era of industrial progress for the district. Infrastructure worth `870 crore will be developed under the project, which is expected to provide direct employment to 30,000 people and indirect employment to another 40,000.
With additional units, total employment could rise by another 29,400. Three major companies have already signed MoUs to set up industries in the SEZ. Shukla added that the region is poised to develop into an economic corridor between Kavali and Nellore.