Kribhco (Krishak Bharathi Cooperative Limited) is going to set up the long pending fertilizer plant in Nellore district. The Andhra Pradesh Government has issued orders to allot 286 acres of land to the cooperative giant to start works of the plant in Sarvepalli Industrial Park in Nellore. Over 50 acres of land is also allotted for UPI Polymers which is planning to establish an industrial unit to manufacture pipes, sprinklers and drip irrigation equipment.
The Production in the plant will start within 24 months after the land is given to the company by APIIC. Kribhco will invest about 2,000 crore in the two phases in the ammonia complex fertilizer plant. UPI polymers are going to invest about 400 crores in its unit and generate a few hundred direct and indirect jobs.
GO transferring the land to APIIC, which in turn will transfer property to Kribhco and UPI Polymers at a market rate of Rs 7 lakhs per acre was issued. APIICC chairman P.Krishnaiah told that few more industries are interested to start industries in Sarvepalli Industrial Park. The Container Corporation of India wants to start a unit and has requested for 150 acres of land.