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The Andhra Pradesh Mineral Development Corporation Ltd (APMDC) was incorporated on 24th Feb 1961 and registered under the Companies Act 1956 with an Authorized Capital of Rs.50 lakhs with full participation by Govt. of A.P. The Authorized Capital is increased from time to time, to Rs.10 crores. The paid up capital is Rs.630.62 lakhs. The Corporation faced difficult financial situations upto 1990. The Corporation started treading on the path of profits from the year 1991-1992 and since then it never turned back. It is one of the very few state Govt. Corporations, who have been paying the dividend to the Govt. every year. As on today, the corporation is having total manpower of 360. The Corporation is dealing with various vendors, and the important one being the Mangampet Barytes Deposits. The annual budget towards salary and wages is about Rs.7.50 crores.


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