The Andhra Pradesh State Investment Promotion Board (SIPB), at its meeting chaired by chief minister Y S Jagan Mohan Reddy at Tadepalli on Tuesday, approved the proposals of several major industries in the state.
These include Rs 498.84 crore ethanol manufacturing unit of Avisa Foods and Fuels company at Mallavalli Park in Krishna district, Rs 3,400 crore expansion project of Andhra Paper Mills at Kadiyam and New Energy Park of NTPC at Pudimadaka near Anakapalle with an investment of Rs.1.1 lakh crore.
The SIPB also approved setting up of electro steel casting units at a cost of Rs.1087 crore at Srikalahasti and Punganur, a minerals processing factory to manufacturer copper cathode, copper rod, sulphuric acid and others with an investment of Rs.10,000 crore by Accord Group at Ramayapatnam.
A 1000 MW wind and solar power projects at Kurnool, Nandyal, Anatapur and Satyasai districts with a total investment of Rs 10,500 crore, a 100 MW data centre at Kapuluppada in Visakhapatnam at a cost of Rs.7,210 crore, and IT Park on 90 acres at Bhogapuram, have also got the nod of the SIPB.
The chief minister directed the officials to extend all cooperation to the industrialists and ensure that the construction of the units was completed in time.
He also said that according to government policy, 75 per cent of the jobs in the units should be given only to local people.
Jagan revealed that the government earned at the rate of Rs.31,000 per acre on annual lease, and also Rs one lakh for every megawatt of power supplied to companies.
