APIIC spends Rs. 384 cr on infrastructure in FY22
Out of Rs 2,079 cr spent in between 2014-22, Rs. 1,021 cr was spent during 5-year term of TDP & Rs. 1,058 cr in 3 years of YSRC government
APIIC spends Rs. 384 cr on infrastructure in FY22
Vijayawada: Adding another milestone in its growth and development bucket, Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has registered record expenditure of Rs 348.71 crore on infrastructural development in the bygone fiscal 2021-22.
The figures are prominent as this is the first time since the bifurcation of the State (2014) that the organisation has been able to spend such a whopping amount to build hi-tech infrastructure across the State.
As per the official data, from 2014 to 2022, Rs 2,079 crore was spent by APIIC, of which only Rs 1,021 crore was spent during the five-year rule of the TDP. However, the current YSRCP government has spent Rs 1,058 crore in just three years after coming to power.
In a statement, the government said not just in terms of developing the infrastructure, APIIC has also recorded a jump in revenue generation. For the last seven years, the average annual income of APIIC was recorded as Rs 590 crore, but in 2021-22 it rose to Rs 656 crore.
Additionally, the corporation is successfully running the YSR electronics manufacturing cluster in Kopparthi, Kadapa, which occupies 501 acres and costs Rs 750 crore. The YSR Jagananna Mega Industrial Hub which occupies 7,000 acres and Kris City which occupies 2,500 acres and costs Rs 1,500 crore is also being managed by APIIC. Besides, corporation has also employed over one lakh people in the last eight years.
APIIC has been able to achieve the feat owing to increase in the inflow of investment opportunities.
