Andhra Pradesh

AP allocates 1000 acres land to Reliance for building shipyard

AP allocates 1000 acres land to Reliance for building shipyard
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Hyderabad: Govt. of A.P. has decided to allot 1000 acres of land, 70 km away from Vishakhapatnam Seaport to Reliance Company for building a shipyard.

It may be mentioned that a MoU was signed on 11th January 2016 between AP and Reliance in the presence of Mr. Arun Jaitley and Ms. Nirmala Sitaraman.

According to the report of A.P. Industrial Infrastructure Corporation, Reliance Company had requested for the allotment of 3000 acres but Govt. of A.P. agreed to allot 1000 acres. The land has already been handed over to the company.

It may be mentioned that various projects worth Rs. 3 lakh crore will be started by Indian Navy which includes the manufacture of ships and torpedoes. Reliance Company has also started manufacturing ships.

According to the details, Indian Navy has a long-term plan spreading over 13-14 years. It proposes to get these projects completed through various contractors.

According to the sources of Reliance Company, its Chairman, Mr. Anil Ambani said that he has a plan to construct a shipyard of international standard on this land. The company proposes to invest Rs. 5-10 thousand crore which would generate ample chances of employment.

Garden Reach Ship Builders and Engineers have also submitted their project for building Greenfield shipyard. Another project has been submitted by Hindustan Shipyards Limited but Govt. of A.P. has not yet decided to allot any project to these companies.

–Siasat News