APIIC targets to generate Rs 5,000 cr revenue in 2008-09: Minister

Hyderabad, Jun 21 (UNI) Andhra Pradesh Industrial Infrastructure Corporation Ltd. (APIIC) targets to generate Rs 5,000 crore revenue in 2008-09 as against Rs 3,600 crore earned since 2004, with an investment of Rs 350 crore for the infrastructure development in industrial parks, State Major Industries Minister J Geeta Reddy said today.

Addressing the press here, Ms Reddy said the APIIC was also planning to acquire 25,000 acres of land, particularly drylands, in the current year. So far, the APIIC had acquired 1.02 lakh acres of land in the state since 1974.

Stating that 54 SEZs, out of the 91 alloted to the state, were notified and would generate nine lakh direct and 16 lakh indirect job opportunities.

Pointing out that the previous TDP Government had given priority to IT and ITES sectors only, the Minister said the Chief Minister Y S Rajasekhara Reddy-led Congress Government was giving importance to the manufacturing sector, besides promoting the IT in the state.

Claiming that the World Bank had recognised the state as one of the most business-friendly states in the country, Ms Reddy said the total investments in the industrial sector was Rs 16,700 crore in the last four years.

Exuding confidence that the state would surpass Gujarat and achieve first position in attracting investments after the petro chemical industries started operations, she said the projected investment in the next year was Rs 33,000 crore.

UNI AP VA GKT 1705