Amaravati, Dec 30 (IANS) Andhra Pradesh State Investment Promotion Board (SIPB) on Monday cleared nine projects to come up in the state with an investment of over Rs 1.82 lakh crore.
The SIPB meeting chaired by Chief Minister N. Chandrababu Naidu gave its clearance for the projects which are expected to create 2.64 lakh jobs.
CM Naidu on Monday directed the officials to see to it that all the necessary permissions, including allocation of land, are granted on time to those who are coming forward to invest in the State on a massive scale.
Officials informed the Chief Minister that at least nine projects are being established in the State now with an investment of Rs 1,82,162 crore creating employment for 2,63,411 people. The Bharat Petroleum Corporation Limited (BPCL) is setting up a major refinery in an extent of 6,000 acres at Ramayapatnam in Nellore district with an investment of Rs 96,862 crore creating 2,400 jobs.
The BPCL is planning a township with five blocks comprising a learning centre, refinery, petrochemical unit and an administrative block, the officials told the Chief Minister. The State will get Rs 88,747 crore in revenue through this project in the next 20 years, they said while the Chief Minister instructed the officials to take steps to complete the project before 2029.
Tata Consultancy Services (TCS) is investing Rs 80 crore in the port city of Visakhapatnam providing employment to 2,000 youth. The Azad India Mobility Limited is setting up a green project to manufacture electric buses, three-wheelers and battery packs in an extent of 70.71 acres at Gudipalli in Satya Sai district in the coming six years providing employment to 2,381 persons.
The Balaji Action Buildwell Pvt Ltd is setting up a plant on 106 acres at Rambilli in Anakapalli district with an investment of Rs 1,174 crore to create 1,500 jobs while several industrialists are ready to invest heavily in the State as they got attracted by the clean energy policy adopted recently by the State Government. This will create over two lakh jobs in the clean energy sector alone.
Tata Power Renewable Energy Limited is establishing a solar power project to generate 400 megawatts of power at Hosur in the Kurnool district on an extent of 1,800 acres with an investment of Rs 2,000 crore creating 1,380 jobs. Also, several other power projects are coming up in the YSR district while Reliance Industries Limited is investing Rs 65,000 crore to provide employment to over two lakh people.
The Chief Minister asked the officials about the progress in the projects which were cleared during the SIPB meeting held on November 19.
He told officials to provide all the basic amenities to such industries on a war footing basis so that the projects can be completed as scheduled. He also directed the officials to attract more investments to the State through the incentives and subsidies being extended to the industries.
–IANS
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