Somu Veerraju thanks PM for granting Rs 1,000 crore to set up Bulk Drug Park in AP

Amaravati, September 1: Andhra Pradesh BJP president Somu Veerraju thanked Prime Minister Narendra Modi on behalf of people of the state for granting Rs 1,000 crore to set up a ‘Bulk Drug Park’ at KP Puram and Kodhada villages of Thondangi mandal in Kakinada district. 
 
In a tweet, Somu Veerraju said that the Central government wrote a letter to the AP government allocating Bulk Drug Park to the state. He also thanked BJP national president JP Nadda. 
 
The Centre directed the AP government to submit a Detailed Project Report (DPR) to Industrial Finance Corporation of India Limited (IFCI) which is the project management agency, within 90 days from the date of receiving approval letter.
 
Despite facing stiff competition from Tamil Nadu, Karnataka and Telangana, the Ministry of Pharmaceuticals allocated Bulk Drug Park to AP under the ‘Promotion of Bulk Drug Parks’ scheme.
 
The proposed Bulk Drug Park is estimated to attract Rs 6,940 crores investment and Rs 46,400 crores worth of business will be generated in next eight years. Bulk Drug Park will create direct and indirect employment to 12,000 persons.