APIIC targets Rs 4,000 cr turnover this fiscal

The state-owned Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is targeting to achieve a four-fold increase in its turnover to touch the $1 billion (Rs 4,000 crore) mark during the current financial year from over Rs 1,000 crore last year.

The ever-growing importance of APIIC in the government's endeavour to promote industrialisation across the state is evident from the fact that from being a developer of industrial estates in the past, it has now been made the nodal agency responsible for several major projects, besides the development of special economic zones, J Geeta Reddy, state industries minister said here today.

The corporation, which has already created a land bank of about 80,000 acre for industrial activities in the state would step up land acquisition in the coming days while raising resources through the sale of developed industrial plots to companies, the minister said at the 35th foundation day celebrations of APIIC.

Stating that more revenues for the organisation would mean more acquisition of land for industrial activities across the state by the corporation, the minister said the corporation was also making efforts and using its resources to develop infrastructure in the existing industrial areas and also for the upcoming SEZs.

Among the new initiatives, the APIIC would hereafter earmark 10 per cent of the industrial plots to women entrepreneurs. A 200-acre knowledge and innovation park is proposed to be developed by the corporation in collaboration with the University of Hyderabad on the latter's campus.

APIIC chairman and managing director BP Acharya said the corporation was on its way to achieve the $1 billion revenue mark this year as it has already achieved Rs 1,350 crore so far.