VIZIANAGARAM: Micro, Small and Medium Enterprises (MSME) Minister Kondapalli Srinivas asserted that the government has been trying to develop the State by setting up one MSME park in each assembly constituency.
Minister Srinivas on Saturday, laid the foundation stone for the third MSME park in Vizianagaram district. The area for the project spans at least 57.49 acres at Konda Kindam village in his own Gajapathinagaram assembly constituency.
“This is a good opportunity for the youth to become entrepreneurs by setting up industries in the MSME park,” he added.
The officials have prepared the ground to develop the park with necessary amenities in an area of 25 acres with an estimated budget of Rs 17.80 crore. The officials are expecting that at least 180 industries with an investment of Rs 90 crore could employ 1,200 people in this region.
Later, he also laid the foundation stone for the fourth MSME park at Kottakki village in Bobbili assembly constituency. He was accompanied with Bobbili MLA Ravu Venkata Sujay Krishna Ranga Rao (Baby Nayana), Bobbili Urban Development Authority (BUDA) Chairman Tenthu Laxmunaidu and others. Addressing the gathering, he said that the government is developing MSME parks in all 175 assembly constituencies in the State to boost MSME growth.
The government is providing necessary infrastructure at MSME parks to set up the industries besides facilitating bank loans, subsidies in power bills and taxes.