AP to come up with first national investment and manufacturing zone

  • Andhra Pradesh is set to house India’s first national investment and manufacturing zone after the state assured the Centre of availability of 10 sq km of land in one place in Prakasham district.
  • The NIMZ will comprise a special purpose vehicle and a developer, along with the state and the central governments as stakeholders.
  • None of the states other than Andhra Pradesh has been able to make any headway yet.
  • Andhra Pradesh has estimated that the manufacturing zone will create opportunities for 20,500 direct and 29,200 indirect jobs and attract an investment of over Rs 43,500 crore.
  • The Centre will assist the state in negotiating non-sovereign multilateral loans and the developers in raising extra commercial borrowings to develop internal infrastructure.

Source: ET

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