AP Gets Bigger Investment Than Kia, Ground Break in New Year

Kia Motors Plant coming in Anantapur is deemed as India’s Biggest Foreign Direct Investment so far but it is no longer going to be. Prakasam District bagged India’s Biggest Foreign Direct Investment as Indonesia based Asia Paper and Pulp has come forward to invest a whopping Eight Billion Dollars at Ramayapatnam.

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It will be almost Five Times Bigger than Kia which has brought 1.5 Billion Dollars FDI. The company has submitted the Comprehensive Project Report to Chief Minister Chandrababu Naidu and will be entering into an MOU with AP Economic Development Board very soon. The Bhoomi Pooja for the Project will happen on January 9th.

In the first phase, the Paper Mill will manufacture 30 Lakh Tonnes of Paper and will employ 15000 People. In the Second Phase, the manufacturing capacity will be increased to another 20 Lakh Tonnes. Pine and Subabul Trees Plantation need for Paper Manufacture will be encouraged and the company will enter into Agreement with 60000 farmers.

This investment will also increase the land rates locally and will also improve the living style of the farmers. After the plant is set up, several ancillary units will also come to the region and will usher the development of the Backward district of Prakasam. The Company is seeking 2500 acres of land in phases for the Plant.