Many companies are interested in establishing industry in the financial capital of Visakhapatnam city. CII sharing seminars have been held in Visakhapatnam since the last two years. Another seminar will be held in February this year. At the end of the two CII seminars, the investments of around Rs 15 lakh crore will come. However, Vizag does not come to the desired level of industries. The main reason for this is the value of land value. Industrialists looked to Andhra Pradesh as land prices in Tamilnadu also rose. However, even the rising prices are anticipated by industrialists. Industrialists have been keen to invest in the AP because of changing political equations and unstable governments in Tamil Nadu. Large scale industries are being shifted to Sri City in Nellore. There are also about 60 to 75 lakh rupees acre. The same situation is also in Visakhapatnam district. Acre a plot of 75 lakhs has been reported in Achyutapuram SEZ. 60 lakhs of acres in Nakappalli and Rambili areas. Nevertheless, there is not enough land at APICI for heavy industries. With this, a new two-acre land was acquired in Nakappalli and Rambili Mandalas. Dei notified some land in Achyutapuram SEZ, and 5500 acres for the Department of Industries.
The Asian Development Bank has sanctioned Rs 6,000 crore for Andhra Pradesh to provide infrastructure in the state. The entire city will be provided with infrastructure in Achyutapuram and Visakhapatnam in Srikalahasti, Visakhapatnam district. Visakhapatnam district is expected to be around Rs 3,000 crore in these six thousand crores. Mittal Group Steel Factory is going to be set up at Rambili in Visakhapatnam district in Visakhapatnam district this month. The Department of Industries has informed that this process is taking place fast. Also, the representatives of the owners of the PDI Gump Company and the Sintokben Glass Company have taken a look at the places. In 2016, Laurus Group opened two units in Pharma, a unit of Aurobindo Pharmacy. So, Shravan has applied for 30 acres of land for shipping company. The works began with the permission from the Green Tribunal for the expansion of the Divis Lab at Vishakha District Chipada. The IOCL has allocated about 50 acres of land for the new unit and construction work has begun. BPCL has landed in the vicinity of the port near the port. In 2017, the North-Eastern Power Corporation of China came forward to set up a power plant with an investment of 500 crore. The first phase of 100 crore rupees has been completed. Electricity generation is currently underway. From April, the full production will start. Wood Park is also set up near the paddy near Sabbhavaram. The mills in the district are all in one place, and the national and international quality industry is prepared to trade. With the large granite mines in Srikakulam district, the windmill is going to be set up at Stone Bhavanavaram. Last year, 98.4 per cent of the industries were granted.
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