Loans – Govt permits APTDC to take loans worth Rs 142 cr- The New Indian Express
Express Information Service
VISAKHAPATNAM: The state authorities lately gave nod to an APTDC’s proposal to safe bank loans worth Rs 142 crore for growth of tourism sector. That is the primary time within the nation when a state authorities has agreed to take loans of this determine for growth of the sector.
Sharing the small print, AP Particular Chief Secretary (Tourism and Tradition) Rajat Bhargav informed TNIE that the whole value of all deliberate tasks is Rs 202 crore. Whereas the Andhra Pradesh Tourism Improvement Company will take loans worth Rs 142 crore from banks, the remaining Rs 60 crore shall be spent from the APTDC’s treasury.
“The money will be primarily used to improve facilities at the existing tourist destinations. Several sites need better connectivity, sanitation and accommodation facilities. So they will be our priority,” he mentioned, including renovation of the 36 Haritha Resorts and resorts run by the APTDC can also be a part of the plan. Additionally, a big chunk of the whole quantity shall be utilised to present impetus to eco-tourism with the development of eco-resorts in Jagithpalli, Lambasingini and Maredumulli. Focus can even be given to rural tourism growth as effectively.
“First in Krishna, East and West Godavari, and Visakhapatnam, stores for handicraft and handloom products will be opened in villages. We are also planning to offer trips to these villages so that tourists can have a firsthand experience of the artisans’ life,” Bhargav added. Water tourism is one other side for which a good-looking quantity shall be devoted. “We have a good coastline and several beaches across the state. This gives us great scope to develop water sports and beach tourism.”
At current, the Company is making an yearly revenue of Rs 5 to Rs 10 crore in any case expenditures together with the workers’s wage. Bhargav talked about that the purpose is to take the revenue as much as Rs 20 to Rs 25 crore. “The loan will be taken by the corporation and not by the government. So even if the governments change, the works will go on. We have also planned to keep certain tourist spots as guarantees against the loan amount. We can easily pay off the loan amount and make profits if we reach close to our goal.” With regard to tasks to be taken underneath public personal partnership model, he mentioned the company has approached as many as 20 corporations, of which 5 have proven curiosity in taking the talks additional.