Andhra Pradesh Special Economic Zone, Atchutapuram, a multi-product SEZ, is set to achieve a turnover of ₹4,500 crore in the current financial year.
After reviewing the performance of various units, Visakhapatnam SEZ-Duvvada Development Commissioner A. Rama Mohan Reddy, who is also in-charge of APSEZ, said that 11 units that were currently operating in the zone have already achieved exports of ₹3,600 crore, exceeding last year’s total exports.
The zone is expected to achieve a growth rate of 28%. The units at APSEZ have invested ₹3,636 crore and are providing direct employment to 3,000 people.
Mr. Reddy, during the recent review of APIIC multi-product SEZ, said that they were making efforts to revive sick and non-operational units. A new unit called Rain CII (Vizag), a calcined pet coke (CPC) unit envisaging an investment of ₹550 crore, participated in the kiln light-up programme. The unit is likely to commence its production and exports by the middle of March this year.
Later, Mr. Reddy also visited W.S. Industries, which was closed after Cyclone Hudhud struck Visakhapatnam, and had remained shut for the past five years. He discussed the possibility of its revival with a fresh investment of ₹100 crore by a new company named Win Win Specialty Insulators Limited. The change of ownership has been approved by the unit approval committee of APSEZ.
The unit has also been given extension of approval for five years with the provision to review their performance on a yearly basis by the Board of Approval, the country’s highest body for SEZs. The company wants to introduce state-of-the-art technology, which not only saves three lakh units of power per annum but would be able to produce world-class ceramic insulators for the power projects across the globe achieving lot of earnings in respect of foreign exchange, Mr. Reddy said.
Out of the 18 licenses issued to the units at APSEZ spread over 1,900 acres, four units are inoperative at present, and two are likely to commence production before the end of the current financial year while two more units are under revival. “We are trying to revive all the sick units in APSEZ and have advised the Zonal Manager, APIIC, who is also the developer, to improve the ambience and facilities inside the zone to attract investments,” he said.
