Andhra Pradesh clears investment proposals worth Rs 16k cr

28 May 2021 CW Team

The Andhra Pradesh government has cleared projects from 14 investors to set up new industries in the state. The investors will make investments to the tune of Rs 16,000 crore in the 14 units.

The file was given to Chief Minister YS Jagan Mohan Reddy for his clearance after the state investments promotion board (SIPB) approved the proposals. The investors have presented detailed project reports (DPRs), which comprises three industries in Kadapa district, two each in Chittoor and Nellore, and one each in Visakhapatnam, Guntur, Tirupati districts besides others.

Neelkamal group has offered to build a plastic unit at Rs 425 crore, while Pitti rail engineering components ltd has introduced a unit for Rs 400 crore. Both the units are intended to be established in the Kadapa district.

Jindal Steels has introduced a unit in the Nellore district, while Sri Chakra Cements has offered its unit in the Guntur district. French-based multinational corporation Saint Gobin has come forward to start its unit in the Visakhapatnam district. Century Plyboards India has also presented a proposal to invest in the Nellore district.

Government officials have kept a series of consultations with the representatives of these organisations and proposed a wide range of incentives to strike the deals. The incentives include the proper extent of land, discounted power supply and expected water supply to the units, sources indicated.

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Also read: Andhra Pradesh govt ties up with Essar to develop steel plant in Kadapa

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