Satyam gets 50 acres - Apache gets 315 acres allotment
Hyderabad, January 17, 2006The Cabinet on Tuesday approved the allotment of 50 acres of land for Satyam Computer Services Limited (SCSL) at Visakhapatnam and 315 acres for Apache Investment Holdings near Tada in Nellore district for setting up product specific Special Economic Zones (SEZ). The Minister for Information Md.Ali Shabbir told the media that the Cabinet also resolved to sell 50 acres of land in Visakhapatnam to Satyam Computer Services at a concessional rate of Rs.10 lakhs an acre for setting up of a Rs.100 crore software facility providing direct employment to 2000 persons.
The Singapore based Apache Investment Holdings an exclusive supplier of footwear to Adidas seeking to establish a manufacturing unit in the state would be leased out land for 25 years on a nominal payment. The unit would manufacture 20 lakh pairs of shoes a month employing 20,000 persons in the first phase of whom 15000 would be women. An MoU signed by the Government with the company recently provided for the completed facility becoming operational in four years.
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