Visakhapatnam: VSEZ gives nod for 5,130 crores investments

Visakhapatnam: Unit Approval Committee of the Visakhapatnam Special Economic Zone(VSEZ), which met at Hyderabad, has given approval for setting up of 6 numbers of IT/ITES, Aviation and other related units with an investment of Rs 5,130 crores and is projected to achieve Rs 1,18,176 Crores NFE, besides generating employment to 2,834 persons.

The meeting held on Friday at its Sub Office located in DLF Hyderabad, Chaired by Zonal Development Commissioner, VSEZ, Visakhapatnam. Besides this 2 EOUs were also approved and broad banding of product for many pharma companies like APL Ltd have been given.

Confirming the news to press, Development Commissioner Avula Rama Mohan Reddy said the UAC approved the proposals keeping in view the projections of the company. VSEZ has jurisdiction over Andhra, Telangana, Chhattisgarh and Hyderabad city has become a hub of IT/ITES SEZs and Aviation sector too.

Reddy said so far 85 SEZs have been notified in Visakhapatnam zone, and out of which 53 SEZs are fully operational and the Zone has achieved exports to the tune of Rs 74,747 crores during the last year out of which Rs 52,320 crore was from IT Sector only.