Date:13/05/2005 URL: http://www.thehindu.com/2005/05/13/stories/2005051312380400.htm

Andhra Pradesh

State Forest Development Corporation profit up

Special Correspondent

`Financial independence' maintained

HYDERABAD: The Andhra Pradesh Forest Development Corporation has earned a profit of Rs 5.83 crores for 2004-05, an increase of 50 per cent over that of last year. Shaikh Hussain, the corporation's chairman, K. S. Rao, Managing Director, and C. Sammi Reddy, chief general manager, highlighted this as yet another achievement of the Y. S. Rajasekhara Reddy Government.

They told reporters here on Thursday that the corporation continued its financial independence without falling back on the Government for any activity. Mr Hussain said the corporation earned its entire income from of its eucalyptus, bamboo, cashew, coffee, teak, pepper and medicinal plantations spread over 85,450 hectares in different districts.

He said the corporation produced the best coffee but failed to sell it in the market on its own under the brand "Anantagiri." The Pedabylu coffee variety grown in Araku Valley was adjudged the "best arabica coffee" in the world by a US agency in 2003 and 2005 for its mixture, flavour, and concentrate. For this year, the export commitment was 850 tonnes and already 450 tonnes were shipped out.

P. Madhusudhana Rao, director, said they had taken up eco-tourism projects worth Rs 10 crores under public-private partnership such as the Botanical Garden at Hyderabad.