Visakhapatnam: Expansion of units expected to boost exports by Rs 6,237 crore

Visakhapatnam : Unit Approval Committee (UAC) of VSEZ, at Visakhapatnam, chaired by its Development Commissioner, A Rama Mohan Reddy, convened a meeting for the State of Telangana and approved expansion of a few SEZ units and setting up of new IT/ITES based unit in Telangana State, despite the continuing pandemic.

There are a total of 61 SEZs operational under VSEZ and out of that 30 SEZs fall under IT sector, and 26 out of them are operational in Telangana.

The biggest ever expansion of IT/ITES units in the past many years, has been approved by UAC in Thursday's meeting, and units to the extent of 1.27 mi. sq.ft, has been approved and this will further enhance the exports from SEZ, to the tune of Rs 6,237 crore, says Reddy.

The UAC in its meeting, approved expansion of 3 existing SEZ units namely M/s Wells Fargo International Solution, Mass Mutual Global Business Services, Tech Mahendra Limited,all located in Hyderabad, by 12,70,583 sq. ft, which would result in to projected consolidated exports to the tune of Rs 6,237 crore and generate new employment to 8,920 persons and the units will invest 1,211 crore in the next 5 years.

All these locations are existing in Divyasree NSL, BSR Builders and TSIIC SEZs. The meeting was attended by all officials, besides representatives of the units