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New projects approved by VSEZ for expansion

New projects approved by VSEZ for expansion

Unit Approval Committee (UAC) of VSEZ, at Visakhapatnam, chaired by its Development Commissioner, A Rama Mohan Reddy, convened a meeting for the states of Telangana and approved the expansion of few SEZ units and approved setting up of new IT/ITES, based units in Telangana State. There are a total of 61 SEZs operational under VSEZ and out of that 30 No of SEZs fall under the IT Sector, and 26 out of them are operational in Telangana.

The UAC in its meeting held on 23rd Feb approved the setting up of 2 new units namely M/s Shoot Order Technology, Telstra Global Business, both located in Hyderabad, in TSIIC SEZ at NanakramGuda, and Sundew Properties SEZ. and further expansion of 3 existing SEZ units namelyM/s. Birlasoft Limited, M/s. Berkadia Services India Pvt. Ltd and M/s. Infoesearch ITES Pvt. Ltd, all located in Hyderabad.

The total area of these units will be1.22 lakh sq. ft, which would result in projected consolidated Exports due to new and expansion of units will be to the tune of Rs 1228 Crores and generate additional employment to 1088 persons and all the units put together will invest Rs. 54.49 Cr in the next 5 years. All these locations are existing in TSIIC SEZ Nanakramguda, DLF Infocity, Gachibowli, NSL SEZ Uppal. The meeting was attended virtually by all the officials, of DGFT, Revenue, Excise, Customs, Drug Controller, and TS IT, besides the Units and Developers, JDC, DDC of VSEZ.

Speaking to Hello Vizag, VSEZ Development Commissioner, A. Rama Mohan Reddy said “During 2020-21, the VSEZ has made exports to the tune of Rs. 92678 Cr out of which IT Exports were to the tune of Rs 63199/- Cr and recorded overall growth in the exports of 11.24 % so far compared to last year. VSEZ recorded growth in Merchandise of 19.28 % and 7.85 % under Services sector. VSEZ Provided employment to 393312. So far, an investment of Rs 56180 Cr has been made in VSEZ by the entrepreneurs says, Mr. Reddy added

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