It’s going to be one of the biggest achievements for Andhra Pradesh. India’s biggest Foreign Direct Investment has been bagged by the Prakasam district as Indonesia based Paper and pulp is going to invest 8 billion dollars at Ramayapatnam.
Kia Motors in Anantapur district is touted be the biggest Foreign Direct Investment so far but the Indonesia base paper and pulp is five times bigger than Kia. Kia has brought 1.5 billion dollars FDI whereas the new investment has brought 8 billion dollars. In the first phase, the paper mill will employ 15000 members and manufacture 30 lakh tonnes of paper followed by an increase in further 20 lakh tonnes in the second phase.
By this pine and Subabul plantation is going to be encouraged on a high scale and the company will make a direct agreement with 60000 farmers. The company has already submitted its report to the chief minister and an MOU with economic development board of A.P is going to be made soon. The company seems to have quotes 2500 acres of land for this project.