NEW DELHI/YSR Kadapa: The Central Government has accorded final approval for setting up of the YSR EMC- an Electronic Manufacturing Cluster, at Kopparthy in YSR Kadapa district, in Andhra Pradesh. Under the EMC-2.0 scheme of the Ministry of Electronics and Information Technology, the Centre sanctioned a grant of Rs 350 Crore out of the total project cost of Rs 748.76 crore.The sanction was according within four months of the State applying for the approval which was meant to attract electronic industries into the cluster.
The Software Technology Parks of India (STPI) has written to the Special Principal Secretary, Ministry of Industries and Investment, sanctioning the central grant Rs 350 to the project, which will be developed on 540 acres in there.
The State government will have to open an escrow account where the Centre will release the sanctioned amount in three instalments. The Centre said in its order that after the development of the YSR EMC, companies in the electronics-manufacturing sector would have 347.40 acres available for sale or lease to set up units and ready-to-build factory sheds would come on 92 acres. The State Government submitted the DPR to the Centre in October last year seeking permission to set up the manufacturing park.
Dixon Technologies India Ltd will invest Rs 300 crore as an anchor company in YSR EMC where 70 acres will be allocated to the company. It is learned that on the 9th of this month, the company representatives expressed interest in investing in Kopparthi when they met Andhra Pradesh Chief Minister YS Jagan Mohan Reddy at the camp office.
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After the final approval accorded, the State Government will sign an agreement with Dixon Technologies, APIIC officials said. Companies such as Avenge which makes lithium batteries and Ronuwhich makes PV modules for solar power, are already in preliminary talks to invest in Kopparthy EMC they said.
APIIC is fast-tracking the launch of YSR EMC in the coming months. It has already undertaken work on four ready-to-work sheds, interior roads at a cost of Rs 50 crore. Of this, construction of two sheds has been completed and work on two more sheds is on the verge of completion, officials said.
The YSR EMC is expected to invest around Rs 10,000 crore and provide employment for more than one lakh people. It is learned that the State Government has already issued orders and approved a special package (incentives) to attract electronic industries into the YSR EMC cluster.