AP expects proposed SEZs to create 4.7 lakh new jobs

Our Bureau

48 SEZs approved in State, 27 of them for IT/ITES

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The details
The Union Government has approved 48 SEZs for Andhra Pradesh with
IT/ITES having a lion's share of 27, followed by pharma with six SEZs.
The SEZs in IT and ITES were expected to bring in around Rs 250 crore of
investments with networth of Rs 50 crore.
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Hyderabad , Oct. 15

The Andhra Pradesh Government expects the proposed 48 special economic
zones (SEZs) coming up in the State to create around 4.7-lakh new jobs,
apart from resulting in the overall development and industrialisation in
the State.

A press release from the Chief Minister's Office said the SEZs would
create a conducive environment for investment and exports, providing
quality infrastructure.

The fiscal benefits provided to both developers and units coming up in
SEZs would reduce operating costs.

The SEZs facilitate single-window clearances, quality infrastructure
services such as water, power, roads, gas and transport, apart from
quality living space. They would have complementary social
infrastructure such as housing, hospitals, schools, entertainment and
market facilities.

These zones offer a simple, integrated and efficient tax solution and
would fuel further economic growth in the State, the CM's Office said.

So far, the Union Government has approved 48 SEZs for Andhra Pradesh
with IT/ITES having a lion's share of 27, followed by pharma with six
SEZs, multi-product four and footwear three, while one each would come
up in the areas of building products, biotech, apparel, gems and
jewellery, paper, textile, services sector and semiconductor.

HIGH EXPECTATIONS

The SEZs in IT and ITES were expected to bring in around Rs 250 crore of
investments with net worth of Rs 50 crore. The developer/company should
construct a minimum of 10-lakh sq ft of IT space, creating at least
10,000 jobs. Thus, the total number of jobs from IT/ITES SEZs alone
would be in the range of 2.7-lakh from 27 SEZs.

Keeping in view the high employment potential, the State Government has
planned SEZs for gems and jewellery, footwear/leather and apparels with
these SEZs expected to create 50,000 , 30,000 and 60,000 jobs
respectively. These jobs would benefit the lower middle-class and weaker
sections, particularly SC/ST/BC and minorities.

The Government expects pharma SEZs to offer about 10,000 jobs, while the
multi-product SEZs being developed for HPCL at Visakhapatnam and ONGC at
Kakinada would create about 50,000 jobs in the manufacturing sector, the
release said.

http://www.thehindubusinessline.com/2006/10/16/stories/2006101602621500.htm