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Notices Served On Fab City ‘Giants’ - SemIndia and Nanotech
Posted by Pradeep Sadanapalli | June 23, 2008 | 665 views
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Loading ...With no significant progress achieved in Fab City, the much-hyped hub for semi-conductor and electronics manufacture on a 1,000-acre site on the city outskirts, the government has served notices on its co-promoters SemIndia Fab Private Limited and Nano-Tech Silicon India Private Limited.
They have been asked to explain reasons for the delay in the setting up of their units in Fab City for which a memorandum was signed between the government and SemIndia with much fanfare in February 2006. The latter had announced that the first phase – a testing and assembling plant for semiconductor chips – would be ready in April 2008.
Major Industries Minister J. Geetha Reddy told reporters here on Saturday that the notices were sent to the two companies, after a review by the government on the progress of work on the land allotted to the companies in the prestigious Fab City for which the A. P. Industrial Infrastructure Corporation (APIIC) is the main promoter. “There is pressure on the companies to perform and they had been clearly told that the allotment of land would be cancelled if they did not stick to the schedules. She said SemIndia and Nano-Tech Silicon India started construction only after the notices were served on them.
APIIC Chairman and Managing Director B. P. Acharya said 16 companies have been allotted 600 acres of land available in the Fab City. XL Telecom Energy Ltd, Solar Semiconductor, Surana Ventures and TF Solar had begun construction activity. The first unit was expected to commence production by this year-end.
The Minister said APIIC was hopeful of earning a revenue of Rs. 5,000 crore through sale of land to various companies. The Corporation was also planning to earmark Rs. 350 crore for development of industrial infrastructure besides creating a land bank of an additional 25,000 acres. With this, the total extent of land available with the APIIC would go up to 1.02 lakh acres.
Referring to the Special Economic Zones, Dr. Geetha Reddy said there were 91 in the State of which 54 had been notified and 35 accorded formal approval.
The projected employment to be created through these SEZs was 8.90 lakh direct and 16.82 indirect. So far, 51,568 people had been provided employment, she added.
SOURCES:
The Hindu
Topics: SEZ, Govt In Action, Business News |
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