UAC nod for new SEZ unit in Ongole

Visakhapatnam: Unit Approval Committee (UAC) of VSEZ at Visakhapatnam, chaired by its Development Commissioner, A Rama Mohan Reddy, convened a WebEx meeting and approved setting up of new unit namely M/s Jyothi Quartz Surfaces SEZ to be set up at Ongole in in Prakasam district despite the continuing Pandemic.

There are a total of 61 SEZs under VSEZ operational and out of that, 26 SEZs are operational in AP and of these 22 are merchandise-based. Out of total 505 units operational under VSEZ, only 133 are situated in AP and rest in TS. Reddy has appealed to the entrepreneurs to also set up units in SEZs in AP to boost the employment opportunities. The addition of the new unit will further enhance the exports from SEZs in AP, he said.

Jyothi Quartz Surfaces, will be set up in Ongole with an investment of Rs 41 crore and it will manufacture 3.94 lakh sq metres of Engineered Quart Slabs, with all indigenous raw material and machinery and technical knowhow imported from Italy with exports to the tune of Rs 292 crore and will earn Net Foreign Exchange of Rs 241 crore and will provide employment to 137 persons.

The company will invest Rs 42 crore to start with and is expected to commence its operations in one year. Besides this, the UAC has approved many broad banding proposals of various pharma companies namely Dr Reddy's, Natco Pharma in Ramky SEZ, Laurus Labs in APSEZ which will boost the economic activity. Also Akrovis Health Care will be set up in VEPZ at Duvvada for trading operations in PPEs and medical Kits and is expected to generate economic activity of Rs 1,643 crore in the next five years as per the project report submitted by the company. Besides this, VSEZ has seen an increase in exports by 42.1% during October this year, with perceptible growth in merchandise sector to the tune of 17.5% compared to last year, despite recession in the country.