VSEZ approves expansion proposal of company

It will generate an additional ₹516 crore of foreign exchange: Development Commissioner

The Unit Approval Committee (UAC) of the Visakhapatnam Special Economic Zone (VSEZ) has approved the expansion proposal of Deccan Fine Chemicals (India) Pvt. Ltd., located in Payakaraopet mandal in Visakhapatnam district.

The expansion project would required an investment of ₹1,770 crore, in the next five years, said VSEZ Development Commissioner A. Rama Mohan Reddy. This would generate an additional ₹516 crore of foreign exchange earning and an additional employment of 900, both direct and indirect, he added.

According to him, besides Deccan Chemicals, approval has been given to a number of other companies for increasing their product base.

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