Kothavalasa(Vizianagaram): Minister for MSME, SERP and NRI Empowerment and Relations Kondapalli Srinivas called upon entrepreneurs to avail the opportunities and come forward to establish industries across the State. On Friday, he laid foundation stone for MSME Park in Balighattam village in Kothavalasa mandal of Vizianagaram district.

The Park in Balighattam, which is among the four sanctioned in the first phase for Vizianagaram district, will be developed over 57 acres with an estimated cost of Rs 7 crore.

Speaking at the event, Minister Srinivas emphasised that the State government is committed to both welfare and development, creating a favorable environment for industrial growth. He assured complete support to those interested in setting up industries. As part of the phased development, the government plans to establish MSME Parks in all Assembly constituencies, with 50 parks to be developed in the first phase. The four parks sanctioned for Vizianagaram district are located in S Kota, Gajapathinagaram, Bobbili, and Nellimarla constituencies.

The Minister stated that industrial plots with full facilities will be allotted in these parks. Entrepreneurs will also benefit from subsidies ranging from 25% to 45%, concessions in electricity charges and taxes, and easier access to bank loans under various government schemes.

The Balighattam MSME Park is expected to attract around Rs 96 crore in investments and could launch 76 small-scale industries. This development is anticipated to create direct employment for approximately 1,500 people and indirect employment for another 500.

S Kota MLA Kollu Lalitha Kumari expressed her happiness, recalling that the idea for this park was originally proposed

by former Chief Minister N Chandrababu Naidu back in 2014, and it is now finally materialising.