New Delhi, Nov 6 (KNN) A mega project of building a huge industrial hub in 3,728 acres by APIIC under PRIDE Scheme at Ozili mandal in the district of Andhra Pradesh with Rs 4,762 crore has been proposed to the Union government.

The project is promoted by the Department of Economic Affairs of the Union government.

The scheme, PPP for Regional Integrated Development Enterprises (PRIDE), aims to provide an area with good infrastructure for attracting businesses, and manufacturing units.

Scheme was promoted by the Department of Economic Affairs, Government of India. 

“We had submitted the proposal to the Union government some time ago and are waiting for the response,” said a senior official from the APIIC. 

He added, “If it is okay, we would be getting a nice project in Ozili mandal which falls under Vizag-Chennai Industrial Corridor (VCIC) that supports entrepreneurs.”

“There would be possibility for investments of Rs 17,000 crore and employment potential for 93,000 people for both direct and indirect,” official said. 

A land is also earmarked for industries to come forward and open their establishments, by Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

And it is waiting for response from interested entrepreneurs.

Further, the APIIC proposed MSME parks in all assembly constituencies for attracting investors.

The goal is to attract development of latest, cost competitive and world class business centres of excellence which can become a hub for a well spread economic growth across the country.  

The proposal has already been submitted to the Central government for approval.   

Integrated Infrastructure Development Centre (IIDC), a wing of IL&FS Group, are also engaged by APIIC for preparation of a project report, site master plan and application documents.

Andhra Pradesh government had proposed to develop such hubs in Nellore, Kurnool and Prakasam districts.