Andhra Pradesh SIPB clears investment proposals of Rs.1.50 lakh cr, 73,000 jobs

AMARAVATI: The Andhra Pradesh State Investment Promotion Board (SIPB) cleared a chain of investment proposals for establishing several heavy industries in the State.

Chief Minister YS Jagan Mohan Reddy, who presided over the SIPB meeting here on Tuesday, directed the officials to take all necessary steps to stand by the industrialists and investors and ensure that all projects were launched within the stipulated time.

He told them to ensure that 75 per cent of the jobs in all emerging industries were given to locals as per the law enacted, and directed the officials to set up a state-of-the-art IT Park at Bhogapuram in an area of 90 acres.

The Board cleared the proposal to set up

Avisa Foods and Fuels at a cost of Rs 498.84 crore for ethanol manufacturing unit at Mallavalli Park in Krishna district to produce 500 kilo liters of ethanol daily and would provide employment to 3,300 persons directly and indirectly. The work is proposed to begin by June and complete in one year.

Andhra Paper Mills at Kadiyam will go for an expansion with an investment of Rs. 3,400 crore. The expansion would be completed by 2025 and would provide direct employment to 2,100 persons.

The NTPC would set up New Energy Park at Pudimadaka in Anakapalli district to produce products of Green Hydrogen, Green Ammonia, Green Methanol and Hydrogen with a total investment of Rs. 1,10,000crore in two phases with each phase receiving an investment of Rs. 55,000 crore. The first and second phases of the Park with employment opportunities to 30,000 and 31,000 persons would be completed by 2027 and 2032 respectively.

Electro Steel Casting Ltd would set up two factories at Sri Kalahasti and Punganur to manufacture Ferro Alloys and DI pipes with an investment of Rs. 1,087 crore providing direct employment to 2,350 persons. Out of this, Rs. 915.43 crore would be invested at Sri Kalahasti and construction of both factories would be completed by December 2023.

The Accord Group would set up a factory at Ramayapatnam with an investment of Rs. 10,000 crore to make special minerals like copper cathode, copper rod, sulfuric acid and selenium. This will provide direct employment to 2,500 persons and the factory work will begin in May 2023 and be completed by June 2025.

JSW Aluminium Ltd, which has withdrawn its proposal to set up Aluminum factory in the backdrop of the YSRCP Government banning bauxite mining in the state, proposes to set up an MSME Park in the acquired 985 acres of land. This was also approved by the SIPB.

Ecoren Energy India Pvt Ltd would set up wind and solar power projects with 1,000 MW capacity each in Anantapuram, Sri Satyasai, Nandyala and Kurnool districts in four phases with an investment of Rs. 10,500 crore. These power units, scheduled to be completed by March 2027, will provide employment to 2,000 persons.

The Chief Minister said that after the YSRCP Government came to power, important changes were brought in the energy policy and the Government was paying Rs. 31,000 for each acre of leased land for the famers and the Government was also getting Rs. 1 lakh for each Mega Watt from the power companies.

Vizag Tech Park Ltd would establish a 100 mw Data Centre at Kapuluppada in three years with an investment of Rs. 7,210 crore by setting up a 10 MW capacity unit in the first phase. This will provide direct employment to 14,825 persons and indirect employment to 5,625 persons. This is in addition to the 200 mg data park which is already coming up.

Wing Tech Mobile Communications India Pvt Ltd would set up a unit at Tirupati to manufacture semi conductors and optical modules with an investment of Rs. 1,489.23crore which will provide employment to 15,000 persons.

Deputy Chief Minister (Panchayar Raj and Rural Development) B. Muthyala Naidu, Minister for Finance and Planning Buggama Rajendranath, IT and Industries Minister G. Amarnath, Minister for Agriculture, Food Processing and Cooperation Kakani Govardhana Reddy, Minister for Municipal Administration and Urban Development Audimulapu Suresh, CS K.S. Jawahar Reddy, Special CS (Forests, Environment & Science and Technology) Neerabh Kumar Prasad, Special CS (Industries and Commerce) R. Karikal Valaven, Special CS (Revenue-Commercial taxes) Dr Rajat Bhargava, Special CS (Energy) K. Vijayanand, Special CS (GAD) K. Praveen Kumar, Special CS (Finance) S.S. Rawat, Principal Secretary ( Water Resources) Sashi Bhushan Kumar, Director of Industries Srujana, APPCB Member-Secretary Praveen Kumar, AP High Grade Steel Ltd MD Shan Mohan, NREDC VC and MD S.Ramana Reddy and other officials were present.