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Vizag is fast becoming a major industrial hub in the country
Vizag is fast becoming a major industrial hub
Vizag, the vibrant city in the east of India is all set to become the next hub of industrial development, second to Chennai and Kolkata. Apart from well known Vizag Steel Plant(VSP), NALCO, BHEL Plants, the city now boasts one of the largest Special Economic Zones in India. The Andhra Pradesh Special Economic Zone with more than 10,000 acres of land under development, largest SEZ in the country, has got several industrial units coming up and some are even ready for inauguration. The proposed Coastal Ferro Alloy Unit at Atchutapuram, HPCL Petrochemical hub and Brandix Apparel Park are few shining examples.
BIAC is all set for Inauguration
The Brandix India Apparel City (BIAC) at Atchutapuram in Visakhapatnam was supposed to be inaugurated on February 5 got postponed as the Chief Minister Mr. Rosaiah is preoccupied with other activities. The BIAC park, which is notified as Separate Special Economic Zone(SEZ), is a 1,000 acre integrated textile and apparel park with all financial and other allied activities, located at Atchutapuram, about 50 km. from Visakhapatnam.
The BIAC was developed and managed by Brandix Lanka, which is Sri Lanka's largest integrated apparel exporter, has partnered with other global apparel partners from US, Mauritius and UK support the venture. The BIAC is expected to provide employment for 25,000 people, which will boost the economic status of the region.
Major Projects on Anvil
There are several prestigious projects allocated to Vizag and Villages around it, Among the recent developments, the Andhra Pradesh Industrial Infrastructure Corporation handed over 1500 acres of (the total 3500 acres) land to Hindustan Petroleum Corporation Limited for setting up a mega petrochemical complex in the Special Economic Zone being developed at Achutapuram.
The total investment of the project is estimated to be close to 22,000 crores, out which the company is likely to invest Rs. 10,000 crores during the first phase. The mega complex will become part of the petroleum hub proposed in the district. There is a plan to develop the petrochemical complex and nearby areas as Petroleum, Chemical and Petrochemical Investment Region.
Second BARC Campus
Among the significant developments, the Andhra Pradesh Industrial Infrastructure Corporation has allotted 2000+ acres of land to Baba Atomic Research Centre campus, the first one outside Mumbai. This prestigious BAARC Campus is coming up around Atchutapuram and Rambilli mandals, and expected to boost the city's image as major destination for research and development too.
Also, there are another 3 units which were allotted land by APIIC, a ceramic insulin unit by WS Industries, 'any size and any shade' slab unit by Pokarna Granites and automobile glasses unit by US-based Pilkington. These three industrial units will bring an investment of Rs. 1,000 crores and together with HPCL complex, the four units are projected to generate employment to about 5,000 people.
In an another significant development, the APIIC has allocated over 2,141 acres of land for the proposed Jawaharlal Nehru Pharma City at Parawada, which is expected to generate jobs for more than 20,000 people.
With all these major developments, Visakhapatnam, popularly known as Vizag is fast becoming the most preferred destination for investment in industrial sector. These developments, obviously, creating more demand in the real estate sector, particularly the housing. According to an estimate, there is a demand for more than two lakh units in the city, out of which the government is proposing 54,000 units under various schemes, the rest is going to be developed in public private partnerships.
The ongoing Housing Projects at Yendada & Madhurwada, Vepagunta and Row Housing projects at Rushikonda Layout, Madhurwada, Visakhapatnam are going create 8,000 units to cater to various segments in the housing sector. This is just a tip of iceberg, still there is a huge potential for real estate development in and around the Vizag city.
Click to see the properties for Sale/Rent in Vizag
BIAC is all set for Inauguration
The Brandix India Apparel City (BIAC) at Atchutapuram in Visakhapatnam was supposed to be inaugurated on February 5 got postponed as the Chief Minister Mr. Rosaiah is preoccupied with other activities. The BIAC park, which is notified as Separate Special Economic Zone(SEZ), is a 1,000 acre integrated textile and apparel park with all financial and other allied activities, located at Atchutapuram, about 50 km. from Visakhapatnam.
The BIAC was developed and managed by Brandix Lanka, which is Sri Lanka's largest integrated apparel exporter, has partnered with other global apparel partners from US, Mauritius and UK support the venture. The BIAC is expected to provide employment for 25,000 people, which will boost the economic status of the region.
Major Projects on Anvil
There are several prestigious projects allocated to Vizag and Villages around it, Among the recent developments, the Andhra Pradesh Industrial Infrastructure Corporation handed over 1500 acres of (the total 3500 acres) land to Hindustan Petroleum Corporation Limited for setting up a mega petrochemical complex in the Special Economic Zone being developed at Achutapuram.
The total investment of the project is estimated to be close to 22,000 crores, out which the company is likely to invest Rs. 10,000 crores during the first phase. The mega complex will become part of the petroleum hub proposed in the district. There is a plan to develop the petrochemical complex and nearby areas as Petroleum, Chemical and Petrochemical Investment Region.
Second BARC Campus
Among the significant developments, the Andhra Pradesh Industrial Infrastructure Corporation has allotted 2000+ acres of land to Baba Atomic Research Centre campus, the first one outside Mumbai. This prestigious BAARC Campus is coming up around Atchutapuram and Rambilli mandals, and expected to boost the city's image as major destination for research and development too.
Also, there are another 3 units which were allotted land by APIIC, a ceramic insulin unit by WS Industries, 'any size and any shade' slab unit by Pokarna Granites and automobile glasses unit by US-based Pilkington. These three industrial units will bring an investment of Rs. 1,000 crores and together with HPCL complex, the four units are projected to generate employment to about 5,000 people.
In an another significant development, the APIIC has allocated over 2,141 acres of land for the proposed Jawaharlal Nehru Pharma City at Parawada, which is expected to generate jobs for more than 20,000 people.
With all these major developments, Visakhapatnam, popularly known as Vizag is fast becoming the most preferred destination for investment in industrial sector. These developments, obviously, creating more demand in the real estate sector, particularly the housing. According to an estimate, there is a demand for more than two lakh units in the city, out of which the government is proposing 54,000 units under various schemes, the rest is going to be developed in public private partnerships.
The ongoing Housing Projects at Yendada & Madhurwada, Vepagunta and Row Housing projects at Rushikonda Layout, Madhurwada, Visakhapatnam are going create 8,000 units to cater to various segments in the housing sector. This is just a tip of iceberg, still there is a huge potential for real estate development in and around the Vizag city.
Click to see the properties for Sale/Rent in Vizag
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- | Courtesy : propertyDirect.in
- | Posted on : Feb 6, 2010
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