AP govt inks MoUs for two projects

Nandan Agro proposes to develop a Horti Processing Park in 150 acres at Zaheerabad in Medak district with an investment of Rs 30 crore, while ExcoTechnologies plans to set up Tool Room project for manufacture of dies, toolings and moulds required for the aluminium extrusion and automotive industries with an investment of Rs 30 crore in the first phase.

Announcing the Horti Processing Park plans, B Jaya Kumar, the director of Nandan Agro, said that the park would attract about 20 units with an overall investment of Rs 100 crore.

On its part, Nandan Agro plans to set up a tomato processing plant in the park with an investment of Rs 20 crore as a 50 : 50 joint venture with Swiss-based Spearhead.

The company also has plans to set up extraction plants for Safed Musli, Aloe Vera and Ginger. The government has agreed to provide single window clearance for the units that would come up in the park.

It would also extend all other incentives available for the horticulture industry, Jaya Kumar said. Exco Technologies plans to implement its 100 per cent export oriented Tool Room project within 18 months after getting all the clearances.

The products manufactured in the unit will be exported to Europe, Gulf and other Asian markets.

Over a period of time, the company proposes to invest about Rs 100 crore in its venture.