VSEZ approves two IT/ITeS units in Vizag, Vijayawada
THE Unit Approval Committee of Visakhapatnam Special Economic Zone has approved the proposals for the establishment of two software IT/ITES units at Vizag IT Hill No. 3 Madhurawada and Ace Urban Hitech City Ltd., SEZ, Vijayawada namely M/s Innominds Software Pvt Ltd and First Source Solutions Pvt Ltd., respectively.
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Visakhapatnam: THE Unit Approval Committee of Visakhapatnam Special Economic Zone has approved the proposals for establishment of two software IT/ITES units at Vizag IT Hill No. 3 Madhurawada and Ace Urban Hitech City Ltd., SEZ, Vijayawada namely M/s Innominds Software Pvt Ltd and First Source Solutions Pvt Ltd., respectively.
The meeting chaired by VSEZ Development Commissioner A Rama Mohan Reddy on Friday also approved a new unit namely Datti Neutraceuticals Pvt ltd., a Hyderabad based company on the VSEZ premises at Duvvada, Vizag, for manufacturing of peanut butter, peanut protein bar. The unit will export to its clients abroad besides meeting domestic requirement.
The setting up of these units will provide employment to 774 persons besides additional exports to the tune of Rs 207 crore. Reddy said in a release.
He thanked entrepreneurs who have come up with the proposals despite economic impacts of pandemic. He said many existing units were given approvals for inclusion of additional products under broad-banding namely Reddy's Laboratories Limited (SEZ Unit), Lee Pharma and Laurus Labs, which will further enhance the exports and carry on experimenting with test doses of various medicines on important drugs for export from the zone. "It will help achieve additional foreign exchange to the nation in the coming years," Reddy said.
