NEWS AND EVENTS
- GEM AND
The Corporation is promoting a Gem and
Jewellery Park at Road NO. 10 Banjara Hills, Hyderabad, jointly with IOI
Corporation Berhad, Malaysia, that provides
de facto Export House of International standards and specifically delineated duty free enclave
deemed Export House for the purpose of concessions for trade operations, duties
Single Window Clearance for licenses, procedures, rationalisation of terms, forms and specifications through the office of the Development Commissioner
Intelligent building through
fibre optic connectivity
Bhoomi Pooja was performed
on 4th May, 2003 and the work has already commenced. The Park is
expected to be completed by Sep / Oct 2004.
The Corporation is setting up a Cold Storage Plant
at Kuppam, Chittoor Dist under a Joint Venture Project as an integral part of
common facility provided under AEZ Chittoor. The Plant is under construction and is expected to be ready
for operations by the end of January 2004 positively.
The Corporation has been
issued Licence by IRDA to act as Corporate Agent for both United India Insurance
Company Limited and Life Insurance Corporation of India. The Corporation intends to handle group policies and the business will be carried on covering both Public and
Private sectors in the State through its strong branch network spread over in
The Corporation has recently
imported Teak – Round Teak Logs (Botanical name “Tectno Grandis”) – from
Myanmar for public sale by auctions. First such auction was held on 25th
May, 2003 at Vishakapatnam and the response was very good with a clear
appreciation of the Quality of the wood. The entire quantity was sold out and the Corporation had earned a good margin in this deal.
Based on the demand, the Corporation will henceforth regularly import Teak. Similarly export of Iron Ore has also been undertaken and arrangements finalised with suppliers, vendors and customers. First shipment is tentatively commencing during first week of February 2004.
Two of the activities of the Corporation – Note
Books Manufacture & Distribution
and Custodial Services at Air Cargo Complexes – have been certified
under ISO 9002 (1994) for their quality standards and the same is under process for upgradation to ISO 9000 (2000). Certification exercise in
another activity – Hire Purchase – under ISO 9000 (2000) is also under process.
The Corporation which has been manufacturing and
distributing Students Exercise Note Books for over two decades, has taken up
customized orders to cater to the needs and specifications of the educational
institutions, to improve the market.