Investments likely to flow into Vizag SEZ

24 manufacturing cos including Dr Reddy's line up with Rs 360 cr

The Visakhapatnam Special Economic Zone (VSEZ) is likely to see an investment of about Rs 360 crore from 24 manufacturing units including Dr Reddy's Laboratories.

"Currently, there are 24 projects under implementation in the zone. Most of the units will start exports during the next fiscal. We are expecting exports of units in the zone to touch Rs 4,000-5,000 crore during 2006-07," ASP Sharma, assistant development commissioner, VSEZ, told Business Standard.

Dr Reddy's is setting up two units in VSEZ for production of tablets, capsules and injections at an investment of Rs 217 crore. HBL Nife Power Systems Limited is setting up a Rs 9-crore unit to manufacture cadmium silver batteries.

To produce polished granite and marble slabs, Showtech Stone Private Limited is setting up units at an investment of Rs 18 crore.

Gland Pharma Limited will invest Rs 16.61 crore for setting up a formulation unit, Hyderabad-based SVPCL Limited, which is into publication business, is spending Rs 10 crore to set up an export-oriented unit in the zone and Secunderabad-based Sunripe Con Pulp Limited is planning a fruits and vegetables processing unit at an investment of Rs 4.78 crore.

While Chennai-based Rane Engine Valves Limited is investing Rs 51 crore to set up inlet and exhaust valves for IC engines manufacturing unit another Secunderabad-based firm Mishra Yavarna Foods Private Limited is investing Rs 4 crore to set up a unit to produce tomato and soluble tea powder.

"Several entrepreneurs have asked for land in VSEZ. Keeping this demand in mind, we have approached the state government for another 200 acres of land," he added.

At present, 23 export-oriented units, including six software export units, operate in the zone which exported products worth Rs 585 crore during last fiscal. This year, exports from these units are expected to touch the Rs 1,000-crore mark, he said.