NABARD assistance for industrial development soon : Minister

Hyderabad, Apr 22 (UNI) Union Minister of State for Industry Aswani Kumar today said the issue of availability of concessional finance from NABARD to the Andhra Pradesh State Finance Corporation (APSFC) and Andhra Pradesh Industrial Infrastructure Corporation (APIIC) would be taken up by the Centre soon.

Talking to newspersons here, Dr Kumar said loans from the NABARD would bring down the cost of the projects taken up for industrial development in the State. A decision would be taken after consulting the Finance Ministry in this regard, he added.

Stating that the country required Rs 1,50,000 crore for infrastructure development, the minister said the Government was inviting Foreign Direct Investment (FDIs) in this sector, besides major companies like Tata and others, who are already in the fray.

The industrial clusters like Pharma city in Hyderabad, Marine Food Processing at Bhimavaram, Precision and Engine Unit at Rangareddy district, Leather Park at Bhogir, Powerloom Park at Sirisilla and Coir Industry would be developed in West Godavari district, he added.

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