The idea behind the policy is bring in Rs 25,000 crore as investments and provide indirect employment to 35,000 people. The state wants to attract start-ups, big industries, educational institutes, national and international companies.
The AP government will be giving sops to companies investing in space-tech domain.
SPV or Special Purpose Vehicle will look after the coordination of funds with the Center through start-ups and other investments. The SPV will also look into providing infrastructure facilities for the proposed space cities.
SPV will be started in the name of AP Space City Corporation. The government has ordered the Industries commissioner to appoint a committee for allocation of lands for companies in space cities in Tirupati and Sri Satyasai districts.
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On the national level, research, supervision and commercial activities will be overseen by Central government bodies Indian Space Research Organisation (ISRO), New Space India Limited (NSIL), Indiana National Space Promotion and Authorization Center (IN-Space).
Indian space missions, launch vehicle technology, satellite development, space-based applications will be overseen by ISRO. SPV will coordinate in keeping with the objectives of national organisations.
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One space city will be developed along the Hyderabad-Bengaluru industrial corridor in Sri Satyasai district. The government feels this would attract investments due to its proximity to Bengaluru. Area around Lepakshi has been found to be conducive for development sector investments.
The second space city will be in Routhu Suramala, Tirupati. Production, integration and launch support will be feasible here, feels the government
Given the resources and facilities in AP, the presence of ISRO is bound to attract national and international companies in space sector, feels AP government. The Central government is planning for a third launch pad. AP government's policy is aimed at grabbing such opportunities.