Andhra Pradesh Industrial Infrastructure Corporation
Encyclopedia
Andhra Pradesh Industrial Infrastructure Corporation Ltd also known as APIIC is part of the Andhra Pradesh
Government
initiatives with the objective of providing industrial infrastructure through development of industrial
areas.
Andhra Pradesh Industrial Infrastructure Corporation Limited was established in the year 1973 for identifying and developing potential growth centres in the State fully equipped with developed plots/sheds, roads, drainage
, water
, power
and other infrastructural facilities; providing social infrastructure
, like housing for workers near industrial
zones; co-ordinating with the agencies concerned for providing communication
, transport
and other facilities.
Besides, the Corporation is also active in project based on Public- Private Partnership Mode.
s like Sricity Multi product SEZ, which is part of Sricity which is a developing Satellite City in the epicentre of Andhra Pradesh & Tamil Nadu. Visakha Industrial Water Supply, Gangavaram
Port, Convention Centre, Mega Industrial Park
s at Parawada and Pashamylaram Financial District Hardware Park at Hyderabad.
going to be the signature building of Hyderabad a 100-storeyed trade tower that will house corporates, star hotels and even entertainment
theatres.
The Government has earmarked a 97 acres (392,545.4 m²) site to the Andhra Pradesh
Industrial Infrastructure Corporation (APIIC) for the proposed trade tower to be constructed at Manchirevula near Narsingi, in the Business District. According to APIIC Chairman S.Siva Rama Subramanyam, who recently led a three-member corporation team to Kuala Lumpur
, Malaysia, to study the famed 'Petronas Towers' there, the modalities of the project were being worked out. After the initial expression of interest, global
tenders were expected to be called in in a couple of months.
He said the Government was keen to have the APIIC Tower
completed in a couple of years by the time the Hyderabad International Airport
at Shamshabad
and the elevated expressway corridor would be ready.
The APIIC tower
could either be a joint venture
or with the APIIC as an equity partner, the modalities of which were yet to be worked out with consultants. He said a consultant, Fortune Capitals had been mandated to work out the plan. The APIIC was keen to start the work at the earliest in the next fiscal.
, APIIC sold 285 acres (1.2 km²) at 27 lakhs per acre as against the prevailing price of 1 crore
per acre in 2003. The remaining 235 acres (and an additional 15 acres (60,702.9 m²) of unusable land) were allotted as a 66 year lease with a 2% share of the Golf course revenues. EMAAR sold this project to EMAAR-MGF and diluted the value of APIIC's stake from 26% to 4%, by not considering the prevailing market rate for the land in 2009.
Multiple claimants to the land have emerged, including the WAKF board and the previous farmer owners of this land. The customers who have paid for properties in the developed project are in jeopardy due to the unclear land title. On the back of the controversial Boulder Hills deal with EMAAR-MGF, several other APIIC projects, including the Raheja Mindspace IT park, that were approved in the period between 2003 and 2009 are being questioned. There are allegations of irregularities in land deals during the Chief Ministership of Y.S. Rajasekhara Reddy.
There are also allegations that government officials were allocated parcels of the property at deeply discounted prices compared to the prevailing market price.
Officials who previously ran APIIC and seem to have conflicts of interest with the developers, have refuted many of these allegations and defended earlier land allotment decisions.
There have been several calls for a thorough investigation into APIIC deals either by the CBI
or by the state investigative agency CID. Though there were initial reports of an external audit, the calls for a CBI enquiry were downplayed by the Andhra Pradesh Government, which has initiated an internal APIIC probe.
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
Government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
initiatives with the objective of providing industrial infrastructure through development of industrial
Industry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
areas.
Andhra Pradesh Industrial Infrastructure Corporation Limited was established in the year 1973 for identifying and developing potential growth centres in the State fully equipped with developed plots/sheds, roads, drainage
Drainage
Drainage is the natural or artificial removal of surface and sub-surface water from an area. Many agricultural soils need drainage to improve production or to manage water supplies.-Early history:...
, water
Water
Water is a chemical substance with the chemical formula H2O. A water molecule contains one oxygen and two hydrogen atoms connected by covalent bonds. Water is a liquid at ambient conditions, but it often co-exists on Earth with its solid state, ice, and gaseous state . Water also exists in a...
, power
Electric power
Electric power is the rate at which electric energy is transferred by an electric circuit. The SI unit of power is the watt.-Circuits:Electric power, like mechanical power, is represented by the letter P in electrical equations...
and other infrastructural facilities; providing social infrastructure
Infrastructure
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function...
, like housing for workers near industrial
Industry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
zones; co-ordinating with the agencies concerned for providing communication
Communication
Communication is the activity of conveying meaningful information. Communication requires a sender, a message, and an intended recipient, although the receiver need not be present or aware of the sender's intent to communicate at the time of communication; thus communication can occur across vast...
, transport
Transport
Transport or transportation is the movement of people, cattle, animals and goods from one location to another. Modes of transport include air, rail, road, water, cable, pipeline, and space. The field can be divided into infrastructure, vehicles, and operations...
and other facilities.
Besides, the Corporation is also active in project based on Public- Private Partnership Mode.
Projects Undertaken
APIIC has been the principal facilitator in mega-projects like Special Economic ZoneSpecial Economic Zone
A Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
s like Sricity Multi product SEZ, which is part of Sricity which is a developing Satellite City in the epicentre of Andhra Pradesh & Tamil Nadu. Visakha Industrial Water Supply, Gangavaram
Gangavaram
Ganaga-varam is a village and mandal located in East Godavari district of Andhra Pradesh, India.Gangavaram railway station is on Kakinada-Kotipalli railway line.-Panchayats:There are 17 panchayats in Gangavaram mandal....
Port, Convention Centre, Mega Industrial Park
Industrial park
An industrial park is an area zoned and planned for the purpose of industrial development...
s at Parawada and Pashamylaram Financial District Hardware Park at Hyderabad.
APIIC Tower
APIIC TowerAPIIC Tower
The Andhra Pradesh Industrial Infrastructure Corporation Tower is a supertall skyscraper planned for construction in Hyderabad, India. At a height of and 100 storeys, it is the second tallest building in construction in India after India Tower in Mumbai...
going to be the signature building of Hyderabad a 100-storeyed trade tower that will house corporates, star hotels and even entertainment
Entertainment
Entertainment consists of any activity which provides a diversion or permits people to amuse themselves in their leisure time. Entertainment is generally passive, such as watching opera or a movie. Active forms of amusement, such as sports, are more often considered to be recreation...
theatres.
The Government has earmarked a 97 acres (392,545.4 m²) site to the Andhra Pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
Industrial Infrastructure Corporation (APIIC) for the proposed trade tower to be constructed at Manchirevula near Narsingi, in the Business District. According to APIIC Chairman S.Siva Rama Subramanyam, who recently led a three-member corporation team to Kuala Lumpur
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
, Malaysia, to study the famed 'Petronas Towers' there, the modalities of the project were being worked out. After the initial expression of interest, global
World
World is a common name for the whole of human civilization, specifically human experience, history, or the human condition in general, worldwide, i.e. anywhere on Earth....
tenders were expected to be called in in a couple of months.
He said the Government was keen to have the APIIC Tower
APIIC Tower
The Andhra Pradesh Industrial Infrastructure Corporation Tower is a supertall skyscraper planned for construction in Hyderabad, India. At a height of and 100 storeys, it is the second tallest building in construction in India after India Tower in Mumbai...
completed in a couple of years by the time the Hyderabad International Airport
Hyderabad International Airport
Rajiv Gandhi International Airport also known as Hyderabad International Airport, is an international airport near Shamshabad, about south of downtown Hyderabad, Andhra Pradesh, India....
at Shamshabad
Shamshabad
Shamshabad is a suburban village and a mandal headquarters, located on the outskirts of Hyderabad, India.There is a railway station at Shamshabad which is part of the South Central Railway, Indian Railways.-Geography:Shamsabad is located at...
and the elevated expressway corridor would be ready.
The APIIC tower
APIIC Tower
The Andhra Pradesh Industrial Infrastructure Corporation Tower is a supertall skyscraper planned for construction in Hyderabad, India. At a height of and 100 storeys, it is the second tallest building in construction in India after India Tower in Mumbai...
could either be a joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
or with the APIIC as an equity partner, the modalities of which were yet to be worked out with consultants. He said a consultant, Fortune Capitals had been mandated to work out the plan. The APIIC was keen to start the work at the earliest in the next fiscal.
EMAAR-MGF Controversy
APIIC has been embroiled in a controversy over land acquisition for the Boulder Hills project in Hyderabad, a joint venture with EMAAR-MGF (also see EMAAR). News reports suggest that the APIIC agreed to dilute the public stake by undervaluing the land that it contributed. About 500 acres (2 km²) of land was acquired by APIIC in 2002-2003 for setting up a golf course and residential properties. Of the 535 acres (2.2 km²) of land in Manikonda near the Indian School of BusinessIndian School of Business
The Indian School of Business is a business school in Hyderabad, Andhra Pradesh, India and is widely recognized as one of the top business schools in the world. It offers a Post Graduate Programme in Management , a Fellow Program in Management, and a Post Graduate Programme in Management for Senior...
, APIIC sold 285 acres (1.2 km²) at 27 lakhs per acre as against the prevailing price of 1 crore
Crore
A crore is a unit in the Indian number system equal to ten million , or 100 lakhs. It is widely used in India, Bangladesh, Nepal, and Pakistan....
per acre in 2003. The remaining 235 acres (and an additional 15 acres (60,702.9 m²) of unusable land) were allotted as a 66 year lease with a 2% share of the Golf course revenues. EMAAR sold this project to EMAAR-MGF and diluted the value of APIIC's stake from 26% to 4%, by not considering the prevailing market rate for the land in 2009.
Multiple claimants to the land have emerged, including the WAKF board and the previous farmer owners of this land. The customers who have paid for properties in the developed project are in jeopardy due to the unclear land title. On the back of the controversial Boulder Hills deal with EMAAR-MGF, several other APIIC projects, including the Raheja Mindspace IT park, that were approved in the period between 2003 and 2009 are being questioned. There are allegations of irregularities in land deals during the Chief Ministership of Y.S. Rajasekhara Reddy.
There are also allegations that government officials were allocated parcels of the property at deeply discounted prices compared to the prevailing market price.
Officials who previously ran APIIC and seem to have conflicts of interest with the developers, have refuted many of these allegations and defended earlier land allotment decisions.
There have been several calls for a thorough investigation into APIIC deals either by the CBI
Central Bureau of Investigation
The Central Bureau of Investigation is a government agency of India that serves as a criminal investigation body, national security agency and intelligence agency. It was established on 1 April 1963 and evolved from the Special Police Establishment founded in 1941...
or by the state investigative agency CID. Though there were initial reports of an external audit, the calls for a CBI enquiry were downplayed by the Andhra Pradesh Government, which has initiated an internal APIIC probe.
External links
- http://www.apiic.in// APIIC Website
- http://www.hinduonnet.com/2006/03/16/stories/2006031620610100.htm APIIC plans 60-storeyed structure near Hyderabad - The Hindu