Published On:December 3 2015
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AP eyes ₹5,000-cr investment in food processing by 2020.
The Andhra Pradesh government is expecting investments to the tune of ₹5,000 crore in the food processing industry by 2020. It also aims to create 50,000 jobs in the sector over the next five years.
Chief Minister N Chandrababu Naidu released the ‘Andhra Pradesh Food Processing Policy 2015-20’ at a networking conclave between Japanese and domestic food processing industry.’
The new policy aims to set up integrated food processing parks in all districts. Each park will be set up in a minimum of 30 acres of land and with at least 10 processing units. The State government has promised to provide 50 per cent of financial assistance for setting up of the park with a limit of ₹20 crore.
Power for food processing units will be supplied at ₹1.50 per unit. The government also promises to provide capital and interest subsidy and announced to provide 25 per cent capital subsidy for processing units limited to ₹5 crore, as per the policy.
On exports, 30 per cent of road transport charges will be reimbursed with ₹5 lakh limit a year for a period of three years.
Naidu asked Japanese food processing industrialists to consider Andhra Pradesh as their second home and utilise all opportunities and resources available in the state.
Earlier, Naidu reviewed the arrangements for next month’s CII summit in Visakhapatnam, that will see participation of delegates from 19 countries.
The three-day ‘CII Partnership Summit’ will be held from January 10 with ‘Sunrise Andhra Pradesh’ as its main theme.