MSME Park proposed to be set up with Rs 2500 crore in Visakhapatnam

In what might prove to be a fillip to the micro, small and medium enterprises in Andhra Pradesh, Bhoomi World Group has expressed interest in setting up an MSME Park in Visakhapatnam. Reportedly, the Group has proposed to invest Rs 2500 crore to develop the MSME Park over 100 acres.

Proposed to be established in a partnership model, the MSME Park in Visakhapatnam is expected to generate direct employment for 20,000 individuals. By developing basic infrastructure over 100 acres in Plug and Play mode, the Group, in its proposal to the state government, said that it would be able to accommodate MSMEs over 20 lakh square feet.

Commenting on the proposal, Rajya Sabha MP Vijayasai Reddy tweeted, “Bhoomi World Group expressed interest to invest ₹ 2,500 Cr to develop MSME Park in Vizag. This is expected to create direct employment to 20,000. The proposed 100 Acre Park to have 20 lakh Sq.Ft of Plug & Play infrastructure.”

The proposal, after being duly being reviewed by officials, will be taken to the notice of Chief Minister YS Jagan Mohan Reddy.