HYDERABAD: The State Government on Tuesday issued orders allotting another 10,000 acres to the Vadarevu-Nizampatnam Port Industrial Corridor (VANPIC) (Nimmagadda Prasad, Chairman) for development of the port-based industrial corridor. The Government alienated about 11,000 acres of land for development of the VANPIC, power plants and other industries on Monday.
For VANPIC, the Government allotted 5,451 acres in seven villages of Karlapalem, Pittlavanipalem, Bapatla and Nizampatnam mandals in Guntur district.
The land will be handed over to the VANPIC Projects Private Limited on payment of market value which ranges between Rs 1.18 lakh and Rs 1.68 lakh per acre.
The VANPIC will pay ex gratia to beneficiaries of assigned lands for parting with their land and also remit 10 per cent of the market value to the State Government.