Despite government order issued; heres why gold refining company still awaits set up in Andhra
At a time when the state government is going all out to woo potential investors to set up firms in Andhra Pradesh capital Amaravati, a firm from Switzerland has been awaiting permission for one year to set up a gold refinery near Vijayawada.
This even after an order to this effect has already been issued by the state government way back in October 2016.
According to the details available, the Switzerland headquartered Indani Global approached Chief Minister N. Chandrababu Naidu at the World Economic Forum meet in Davos in 2016 and offered to invest and set up a gold and silver refinery.
After presenting a detailed project report, the government issued the government order citing benefits.
A revenue of Rs one lac crore per annum to the State and direct, indirect employment to nearly 6,000 people was projected, according to Indani Global sources.
The 30 acres at Mallavall village in Bapulapadu mandal in Krishna district in an industrial park of approximately 1,360 acres was identified but the final allocation is pending since then.
The State is awaiting clarity on GST and its share therein.
Going by the projections of the company, Indani’s facility is expected to have a processing capacity of 250 metric tonnes gold and 900 MT silver per annum and intends to become the biggest refinery in India and eventually in Asia. >