APSFC to render Rs 675 cr to SMEs in FY07

Tirupati, June 25 (UNI) The Andhra Pradesh State Financial Corporation (APSFC) Chairman J Rambabu has said the corporation will render Rs 675 crore as financial assistance to the Small and Medium Enterprises (SMEs) in the current fiscal.

Besides, the corporation has accorded in-principle approval for 40 projects, including food and agro products, chemical, biotechnology, tourism-related activities, mineral-based industries and others, involving a sum of Rs 58.23 crore.

He was speaking at APSFC's corporation business development campaign programme organised here yesterday.

The corporation has also given sanction of Rs 5.78 crore to 35 entrepreneurs.

Infosys, Tata Group, Reddy Labs have grown from small scale to international level, Mr Rambabu said.

He appealed to the participants to put in hard work and set up industries for development of this region.

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