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12 Investment Proposals Worth Rs 1,956 Cr Approved Under Visakhapatnam SEZ Jurisdiction

Updated: Aug 28, 2023 05:16:13pm

12 Investment Proposals Worth Rs 1,956 Cr Approved Under Visakhapatnam SEZ Jurisdiction

Visakhapatnam, Aug 28 (KNN) Under the jurisdiction of the Visakhapatnam Special Economic Zone (VSEZ), twelve new units will be set up in Andhra Pradesh and Telangana.

These units will make an investment of Rs 1,956 crore and will provide employment to 2,943 eligible candidates. Most of them are software companies, whose targeted customers are from Canada and the US, reported The Hindu.


As per reports, three units have been approved in Andhra Pradesh. The approved units include proposal of Advait Biofuels Private Limited for manufacturing of Biodiesel, Biocon Limited and Granules CZRO Private Limited’s proposal for manufacturing of pharmaceutical products.

The nine units approved in Telangana include proposals of  Purview India Consulting and Services LLP, Sigmasoft Infotech Pvt. Ltd, Cadeploy Engineering Pvt. Ltd, M/s. Inspire Brands Global Innovation Centre India Pvt. Ltd, Offchip Technologies P Ltd, Safran Aircraft Engines Services Pvt. Limited, Arowana Engineering and Survey Services India P Ltd, Astreya Consultancy India Pvt. Ltd and FedEx Express Transportation and Supply Chain Services India Pvt. Ltd.

The investments of nine units pertain to the VSEZ’s sub office at Hyderabad will be around Rs 1936.41 crore with an employment creation of 2,736 candidates.

“All the firms’ products are related to information technology and information technology enabled services. Key functions of the units will be like Strategy Services and Managed IT Services, IT Design and Development Services, Game changing IT managed services, Repair, Maintenance and Overhaul Services of Mobiles and Software Development, Maintenance, Application Management Services,” said a VSEZ official at Hyderabad office.

Speaking to The Hindu, VSEZ Zonal Development Commissioner Srinivas Muppaala said, “These 12 units have been approved in the first quarter of this fiscal. They are supposed to start their operations within six months. We hope that they will start operations before the specified period. It’s a good sign for the first quarter.”

VSEZ, which was established in 1989, is spread over an extent of 360 acres, with its head office at Duvvada in Visakhapatnam. It caters to the needs of export-oriented units in Chhattisgarh and Yanam apart from Andhra Pradesh and Telangana.  (KNN Bureau)


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