The Hindu : Andhra Pradesh / Hyderabad News : APIIC targets $ 1 bn. turnover this year

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Thursday, Sep 27, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

APIIC targets $ 1 bn. turnover this year

Special Correspondent

GO likely on subsidy hike for SC entrepreneurs from 20 per cent to 40 per cent

MARKFED allots 38 acres to APIIC for setting up IT park in Karimnagar
APIIC and UoH to jointly establish a knowledge and innovation park

— Photo: H. Satish

Forging ahead: Minister J. Geeta Reddy laying foundation for the APIIC centre in Hyderabad on Wednesday. B.P. Acharya, CMD of APIIC, is at left.

HYDERABAD: The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is targeting a turnover of US $ 1 billion by the end of the current fiscal, according to Chairman and Managing Director of the corporation B.P. Acharya.

Minister for Major Industries J. Geeta Reddy has announced that the annual maintenance corpus (AMF) given to the APIIC will be doubled from the current Rs. 25 crore to Rs. 50 crore.

Addressing the 35th anniversary of the corporation here on Wednesday, the Minister said that 10 per cent of land in the industrial parks of the corporation would be allotted to women. The Government would also issue a GO increasing the subsidies given to Scheduled Caste entrepreneurs from 20 per cent to 40 per cent, on a par with Scheduled Tribe entrepreneurs, she disclosed.

Industrial Area Local Authorities (AILAs) would now have single-window officers from industry departments to give clearances to entrepreneurs. The Minister announced that the AP MARKFED had allotted 38 acres to the APIIC to set up an IT park in Karimnagar.

300 industrial parks

Mr. Acharya said the corporation had 300 industrial parks and 80,000 acres of land bank, which was built consciously. The APIIC and the University of Hyderabad would be floating a joint venture to establish a knowledge and innovation park on the university campus for opening research and development centres with a view to creating an industry-institution interface.

Explaining the growth trajectory of the corporation, Mr. Acharya said its turnover had increased from Rs. 62 crore in 2003-04 to Rs. 1,080 crore in 2006-07.

Principal Secretary of Industries Department B. Sam Bob gave away allotment letters to the Department of Fire Services for the setting up fire stations in the industrial parks at Sanathnagar, Pasha Mylaram, Gundla Pochampally, biotech park, and hardware park.

The Minister unveiled a plaque marking the laying of foundation stone for the APIIC Centre to be set up in an acre of land at a cost of Rs 5 crore in the city.

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