New Delhi, Nov 15 (KNN) Deputy Chief Minister (Revenue) of Andhra Pradesh, K.E. Krishna Murthy directed the Revenue Department and the A.P. Industrial Infrastructure Corporation (APIIC) to impose penalties on industries which took land for setting up manufacturing, processing and other units but failed to go into production.

He ordered the concerned authorities at a review meeting with special Chief Secretary D. Sambasiva Rao at the Secretariat.

On the matter, Murthy pointed out that thousands of acres given to industries were used to obtain loans from banks and do various businesses including real estate.

It was detrimental to the economy as it is not adding any value in the growth and development of state and economy as a whole.

On this issue, APIIC Managing Director Babu A. told the Deputy CM that the government had transferred 41,838 acres to the APIIC after June 2014 for industrialisation and another 19,000 acres recently and 9,479 acres were allotted to industries.

He said that APIIC was executing sale deeds only after the companies went into production to ensure that the land was not misused.

He said MSME parks were being set up in 1,335 acres in 31 Assembly constituencies in the first phase.