TGIIC defends Khammam land allotment

metro india news I hyderabad

The Telangana Industrial Infrastructure Corporation (TGIIC) has dismissed reports alleging that land at the Buggapadu Food Park in Khammam district was allotted to Deepak Next Gen Feeds at throwaway prices, describing them as baseless. In a statement, TGIIC Joint Khammam District Zonal Manager Ajmeera Swamy said the allotment process was completely transparent and left no scope for undue influence.

He explained that the land price was reduced to attract investment and generate employment. Initially fixed at Rs. 51 lakh per acre, it was lowered to Rs. 35.75 lakh on April 22, 2022, after failing to attract investors. Deepak Next Gen Feeds later sought 72 acres for feed and integrated aqua-processing units with a proposed investment of Rs. 515 crore. 

Following the company's request, citing financial constraints, the price was further rationalised to Rs. 25 lakh per acre.

According to TGIIC, the project is expected to create 3,040 direct and indirect jobs. Swamy said the price revision was aimed at promoting industrial development and employment in the backward region, not benefiting any individual or company. The revised rate was approved by the Price Fixation and Infrastructure Committee in the larger public interest. TGIIC also noted that it had invested Rs. 90.8 crore in developing infrastructure at the food park.