Investment proposals worth 16,000 crore cleared by state investments promotion board

  • | Thursday | 27th May, 2021

The investors have submitted detailed project reports (DPRs), which include three industries in Kadapa district, two each in Chittoor and Nellore, and one each in Tirupati, Guntur and Visakhapatnam districts besides others.

The Andhra Pradesh government has cleared proposals from 14 investors to start new industries in the state. The investors have come forward to invest about 16,000 crore in the 14 units which can provide over 30,000 jobs.

After the state investments promotion board (SIPB) cleared the proposals, the file was sent to chief minister YS Jagan Mohan Reddy for his clearance.

The chief minister is expected to take a call on these proposals in a week or so, sources said.
The investors have submitted detailed project reports (DPRs), which include three industries in Kadapa district, two each in Chittoor and Nellore, and one each in Tirupati, Guntur and Visakhapatnam districts besides others.

Neelkamal group has proposed to set up a plastic unit at a cost of 425 crore, while Pitti rail engineering components ltd has proposed a unit at a cost of 400 crore. Both units are proposed to be set up in Kadapa district.

Jindal Steels has proposed a unit in Nellore district, while Sri Chakra Cements has proposed its unit in Guntur district. French-based multinational company Saint Gobin has come forward to open its unit in Visakhapatnam district. Century Plyboards India has also submitted a proposal to invest in Nellore district.

Government officials have held series of consultations with the representatives of these companies and offered a wide range of incentives to strike the deals. The incentives include suitable extent of land, discounted power supply and required water supply to the units, sources indicated.


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