AP likely to get Rs 5 lakh crore NIMZ

Ongole, Oct 05: If everything goes as per plan, India's first National Investment and Manufacturing Zone (NIMZ) with an investment potential of over Rs 5 lakh crore will come up in Prakasam district. The state government has already identified 14,920 acres land spread over an area of 60 km in the district. The project would provide employment to 2.5 lakh people. The Centre proposed NIMZs at various places across the country to increase GDP by 25 per cent within a decade. Industries in NIMZ would enjoy 100 per cent Income Tax exemption on export income in the first five years and 50 per cent for the next five years. Various state governments shelved the project due to non-availability of land. AP government identified 14,920 acres of assigned and government land in Pamur and Peda Cherlopalli mandals in the district as per Central government norms and received permission in principle to set up NIMZ. Prakasam Collector Sujatha Sharma has said that government will not touch the villages located in the site. Transport Minister Sidda Raghava Rao said that NIMZ and Donakonda Peninsular Region Industrial Development Corridor (Pride Corridor) would spur development in the backward district.