Amarajeevi Potti Sri Ramulu Nellore District

The state government has decided to take back the 2,000 acres it had allocated to the UK-based Caparo group as it failed to come up with plans as promised earlier.

The group promised to invest Rs 3,500 crore for setting up an automotive, engineering and aerospace park and a component manufacturing cluster at Naidupet in Nellore district and signed an MoU with the state government. The group also promised to generate at least 10,000 jobs in the district over the next two decades. The state government provided 2,000 acres at the rate of Rs 1 lakh per acre for the proposed component manufacturing park and also offered a 14-year tax holiday and other incentives to the group.

http://timesofindia.indiatimes.com/city/hyderabad/Andhra-govt-to-take-ba...