Bestek Footwear to set up plants in Chittoor, Kadapa
image for illustrative purpose
Visakhapatnam Andhra Pradesh Government has provided freehold rights to Bestek Footwear India (P) Ltd., an Indian entity of Hong Kong-based Intelligent SEZ Development Ltd., in proportion to employment generated for the proposed plants at Inagaluru (V) in Srikalahasthi mandal in Chittoor district and Pulivendula in YSR Kadapa district for establishing footwear manufacturing and allied activities.
An order to grant relaxation of the IDP 2020-23 Policy, as a special case being an employment intensive industry, was issued on May 11.
The Industries and Commerce Department vide GO MS.No. 32 stated that orders were issued extending Special Package of Incentives under Mega Project Category in favour of Intelligent SEZ Development Limited for establishing a sector-specific Special Economic Zone (SEZ) for footwear manufacturing at lnagaluru (V), Srikalahasthi (M), Chittoor district and footwear component manufacturing facility at Pulivendula, YSR district.
Among the incentives extended, it was agreed to allocate 298 acres at Inagaluru village of Srikalahasthi mandal in Chittoor district and 27.94 acres at Pulivendula in YSR Kadapa district at upfront land cost of Rs.6.50 lakh per acre. It was also ordered that the land will be transferred from leasehold to freehold basis to the company, after 10 years of successful operations.
The project proponent had stated that that they do not reflect in the GO issued by the government and sought modifications to certain conditions such as lease-hold to free-hold in proportion to employment generated or 10 years of successful operation, whichever is early and waiver of additional process fee in respect of Urban Development Lease (UDL).
"For the proposed plant in Chittoor district, 100 acres will be given to the project proponent from lease-hold to free-hold upon creation of 3,500 jobs. Another 100 acres will be made from lease-hold to free-hold upon creation of 3,500 additional jobs. The remaining 98 acres will be given from lease-hold to free-hold upon creation of 3,000 jobs, out of the total 10,000 jobs promised," the GO said.
For the plant proposed at Pulivendula in YSR Kadapa district, 27.94 acres is promised from lease-hold to free-hold upon creation of 2,000 employment or 10 years of successful operation, whichever is early. There is a condition that after 10 years, any unutilised /under-utilised land will be taken back by the government.
The government will waive additional process fee and GST on the additional process fee for the land at both the places to a tune of Rs.40.12 lakh. The Vice Chairman & Managing Director, A.P. Industrial Infrastructure Corporation Limited has been directed to take further action in the matter, accordingly.
