Modern market yard to come up with an investment of Rs.120 crores

Visakhapatnam, January 5, 2008

Market yard to be built in 50 acres of land

Speaking at a press conference after a review meeting, the Minister for Marketing, M Mareppa said that a modern market yard with cold storage and other facilities will come up in the city with an estimated investment of Rs. 120 crores in a 50 acre land. He said that the project would be taken up under private-public partnership programme for which tenders being submitted by private partners and would be finalized soon. A 25 percent subsidy will come up from Centre, he added.

He further said that they were searching suitable land for allotment for the project which would have cold storage facility for perishable goods. It would have state-of-art infrastructure as per international standards. The market yards will also come up at Tirupati and Hyderabad. The total cost of the three projects comes to Rs.450 crore excluding cost of land.

He said that the State Government had taken a decision to construct godowns in each mandal in an area of one acre with an investment of Rs.25 lakhs.

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