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3 new units to be set up in AP to generate employment to 774 says VSEZ Chief

3-new-units-to-be-set-up-in-AP-to-generate-employment-to-774-says-VSEZ-Chief

Unit Approval Committee (UAC) of VSEZ, at Visakhapatnam, chaired by its Development Commissioner, A. Rama Mohan Reddy, convened a WebEx meeting for the SEZs for the State of Andhra Pradesh Regionon19th March 2021 from its Administrative Building at Duvvada, which was attended by the Members of UAC from the state of AP, besides Jt. DGFT, Drugs Department, JDC, ADCs Virtually.

The UAC in its meeting held today, approved the proposals of 2 software IT/ITES units to be set up in Vizag IT Hill No. 3 Madhurawada and M/s Ace Urban Hitech City Ltd., SEZ, Vijayawada namely M/s Innominds Software Pvt Ltd. and M/s First Source Solutions Pvt Ltd., respectively. Also, one new unit namely M/s Datti Neutraceuticals Pvt ltd., a Hyderabad based company will set up a unit in the VSEZ Premises at Duvvada, Vizag, for manufacturing of Peanut Butter 8 Mt/day, Peanut Protein Bar 500 kg/day, and Plant protein 4 MT/day and will export to its clients abroad and India as well. The setting up of these units will provide employment to 774 persons besides additional exports to the tune of Rs 207 Crore. Development Commissioner welcomed the new entrepreneurs who have come up with proposals despite the economic impacts of the Pandemic.

Besides this, Mr. Reddy, DC VSEZ, said many existing units were given approvals for the inclusion of additional products under broad-banding namely M/s. Reddy’s Laboratories Limited (SEZ Unit), M/s Lee Pharma, and M/s. Laurus Labs, which will further enhance the exports and carry-on experimenting with test doses of various medicines on important drugs for export from the zone and will help achieve additional foreign exchange to the nation in the coming years.

DC VSEZ said that, during 2020-21, the exports made from VSEZ are historic despite pandemic and are to the tune of Rs103512 Cr and recorded an increase in exports of 15.6 % so far.VSEZ exports crossed the 1 Trillion mark for the first time since the VSEZ has come into existence says Mr. Reddy.

#VizagNews #Visakhapatnamnews #breakingnews #latestnewsvizag

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