VSEZ approves greenfield, brownfield investments in TS

Visakhapatnam: UNIT Approval Committee (UAC) of Visakhapatnam SEZ (VSEZ) held a meeting virtually for Telangana, and approved setting up of a few SEZ units and expansion of existing IT/ITeS based units. There are a total of 61 SEZs operational under VSEZ as on date with 526 units operational there out of which 30 SEZs fall under the IT sector.

Twenty six out of them are operational. The last UAC meeting of VSEZ for the FY 2020-21, held on Monday under the chairmanship of VSEZ Development Commissioner A Rama Mohan Reddy, approved setting up of two new units namely Legato Health Technologies LLP (Unit-3) in Phoenix Infocity Pvt. Ltd, SEZ, and Rocksalt Interactive Games P Ltd in NSL SEZ (Hyd) Pvt Ltd, in Ranga Reddy district. Similarly, two units sought for expansion of existing IT/ITES are Ascent Business Solutions and Infosys (Unit-7) both located in NSL SEZ (Hyderabad) Pvt Ltd., in IDA Uppal in Ranga Reddy district of Telangana.

Setting up of these new units as well as expansions, will attract investment of Rs 262 crore, and will generate employment to 4,783 and will achieve exports to the tune of Rs 3,245 crore over a period of five years. The meeting was attended virtually by all the senior officials from Director General of Foreign Trade, Revenue, Excise, Customs, Drug Controller, and TS IT, besides the units and developers. During 2020-21, the VSEZ has made exports to the tune of Rs 103,512 crore out of which IT exports were to the tune of Rs 69,686 crore and recorded an overall growth in the exports to the tune of 15.60 per cent so far, compared to last year.