Twelve new proposals have been granted approval for setting up of units in Andhra Pradesh (three) and Telangana (nine) in the jurisdiction of city-based Visakhapatnam Special Economic Zone (VSEZ). These units will make an investment of ₹1,956 crore and will provide employment to 2,943 eligible candidates. Most of them are software companies, whose targeted customers are from Canada and the US.
The three units in Andhra Pradesh will be M/s. Advait Biofuels Private Limited for manufacture of Biodiesel, M/s. Biocon Limited and M/s. Granules CZRO Private Limited for manufacture of pharmaceutical products, according to VSEZ here. The location of the companies will be combined Visakhapatnam district.
The nine units in Telangana are M/s. Purview India Consulting and Services LLP, M/s. Sigmasoft Infotech Pvt. Ltd, M/s. Cadeploy Engineering Pvt. Ltd, M/s. Inspire Brands Global Innovation Centre India Pvt. Ltd, M/s. Offchip Technologies P Ltd, M/s. Safran Aircraft Engines Services Pvt. Limited, M/s. Arowana Engineering and Survey Services India P Ltd, M/s. Astreya Consultancy India Pvt. Ltd and M/s. FedEx Express Transportation and Supply Chain Services India Pvt. Ltd. The location of the companies is in Ranga Reddy district.
The investments of nine units pertain to the VSEZ’s sub office at Hyderabad will be around ₹1936.41 crore with an employment creation of 2,736 candidates.
“All the firms’ products are related to information technology and information technology enabled services. Key functions of the units will be like Strategy Services and Managed IT Services, IT Design and Development Services, Game changing IT managed services, Repair, Maintenance and Overhaul Services of Mobiles and Software Development, Maintenance, Application Management Services,” said a VSEZ official at Hyderabad office.
Speaking to The Hindu, VSEZ Zonal Development Commissioner Srinivas Muppaala said, “These 12 units have been approved in the first quarter of this fiscal. They are supposed to start their operations within six months. We hope that they will start operations before the specified period. Its a good sign for the first quarter.”
VSEZ, which was established in 1989, is spread over an extent of 360 acres, with its head office at Duvvada in Visakhapatnam. It caters to the needs of export-oriented units in Chhattisgarh and Yanam apart from Andhra Pradesh and Telangana.
