The Visakhapatnam Special Economic Zone (VSEZ) has approved 12 new bids for the construction of three units in Andhra Pradesh and nine in Telangana.

These businesses will bring in an investment of Rs. 1,956 crore and employ 2,943 qualified applicants.

Within six months, these 12 units—which received approval during the first quarter of the current fiscal year—should begin operating. Advait Biofuels, which makes biodiesel, Biocon, and Granules CZRO, which makes pharmaceutical products, are the three facilities in Andhra Pradesh that will be built in the merged Visakhapatnam district.

Among the nine units in Telangana are Purview India Consulting and Services, Sigmasoft Infotech, Inspire Brands Global Innovation Centre India, FedEx Express Transportation and Supply Chain Services (India) and others.

The investment of nine units at Hyderabad will be around Rs 1,936.41 crore. It will support an employment creation for 2,736 persons.

The products are related to information technology (IT) and information technology-enabled services (ITeS). The units will be engaged in strategy services and managed IT services, IT design and development services, repair, maintenance and overhaul (RMO) services of mobiles and software development, and others.