AP cabinet allots land for Industrial Park

Hyderabad, Nov 29 (UNI) Continuing its efforts to woo industrial investments, the State Cabinet today decided to allot 323.74 acres of land to the Andhra Pradesh Industrial Infrastructure Corporation for an Industrial Park at Kodur in Anantapur district.

The cabinet meeting, chaired by Chief Minister Y S Rajasekhara Reddy, decided to allot the land at a concessional rate of Rs 50,000 per acre to attract industrial investments to the state in a big way, official sources said.

To improve the functioning of the State Transmission Corporation (TRANSCO), the cabinet decided to provide counter-guarantee to mobilise Rs 350 crore by issuing ''power bonds.'' In a bid to make housing affordable to the middle class people, the cabinet decided to allocate over 100 acres of land on the city outskirts.

A policy would also be shortly evolved for assessing the value of land for acquisition, the sources said.

The cabinet allotted 1.96 acres of land in Terlam and 1.38 acres of land in Chegurpalli, Vizianagaram district, to the State Road Transport Corporation for construction of bus complexes.

UNI SM VA DS 1723