The Visakhapatnam Special Economic Zone (VSEZ) has so far issued approvals to 95 new units in the current financial year with an investment of ₹8,631 crore and exports to the tune of ₹59,111 crore.
The VSEZ located at the Duvvada near here has jurisdiction over the SEZs in Telangana, Andhra Pradesh and Chhattisgarh.
“The investments have a projected employment generation of 69,077 in the next five years,” VSEZ Development Commissioner A. Rama Mohan Reddy said on Wednesday after attending the unit approval committee meeting in Hyderabad.
He said the enthusiasm for setting up IT units, or expanding the existing units, in Hyderabad SEZs did not diminish. The number of applications received and approved in the last 11 months for new units had increased manifold, setting a new record in the 30-year history of the VSEZ, he added.
Exports
Mr. Reddy said the VSEZ had set a new record in the growth of exports and secured first position in the country among all the seven zones by achieving the highest rate of 35.05% compared to the previous year.
“Despite global slowdown in the production sector, we have achieved 27.54% growth in exports of merchandise in SEZs. As on Tuesday, our consolidated export figures touched ₹94,126 crore for merchandise and services,” he said.
At this pace of growth, with a few more days to end the financial year, he hoped that the VSEZ would record a final growth of 31.8%.
Approvals for one new IT unit and expansion of three existing units had been accorded by the committee at the meeting held earlier in the day.
