In a significant development, the Taiwan government along with a group of industrialists from that country have approached the Andhra Pradesh government for land to set up a multi-product SEZ on the Krishnapatnam-Tada highway, close to Chennai.
According to highly-placed official sources, the Taiwanese delegation had recently met the Andhra Pradesh officials seeking about 2,500 acres of land. “The Taiwanese industry together with the Taiwanese government proposed to set up electronic and engineering industries,” officials told FE. The investment would be in the order of about Rs 25,000 crore, officials added.
While the Taiwanese government will invest about 40%, the Taiwanese industry will put in the remaining 60%, the officials said. However, the government is yet to take a final decision on the proposal, he added.
Incidentally, the Andhra Pradesh government is promoting 75 kms stretch between Krishnapatnam and Tada on the national highway as a manufacturing industry region (MIR) on the lines of PCPIR being developed between Kakinada-Visakhapatnam.
This road stretch on the national highway V, has natural advantage with easy access to the Chennai international airport and three sea ports – Krishnapatnam, Chennai and Ennore. This would be an added advantage for the industries setting up their plants there.
Though technically, the plants will be located in AP, they can easily monitor and administer directly from Chennai for all their social and infrastructural needs, the officials pointed out.
The state government has already acquired about 4,000 acres around Mambattu, Tada and Krishnapatnam villages, sources said. Besides, the government has also decided to offer all the incentives including the land cost on par with the Tamil Nadu government, sources added.