Visakhapatnam: UAC approves projects to boost exports, employment

Visakhapatnam: Unit Approval Committee (UAC) of VSEZ, at Visakhapatnam, chaired by its Development Commissioner A Rama Mohan Reddy convened a WebEx meeting for the State of Telangana and approved conversion and expansion of few SEZ units and also approved setting up of new Export Oriented Units (EoU) in Telangana State, despite the pandemic.

There are a total of 61 SEZ units under VSEZ operational and out of them, 30 fall under IT sector. Of these 26 are operational in Telangana and only 4 in AP. And out of 372 No of operational units in IT/ITES sector, 322 are in TS and 50 are in AP, says Reddy.

The UAC in its meeting held on October 27, approved expansion of 3 existing SEZ units by 74,305 sq. ft which includes conversion of one unit under EoU to SEZ and also setting up of 2 new EoUs, which would result in to projected consolidated exports to the tune of Rs 1,350 crore and generation of new employment to 951 persons over a period of next 5 years.

The VSEZ has achieved exports to the tune of Rs 54,024 crore in the first half of current fiscal year.