AP Investment Promotion Board Approves 19 Projects Worth Rs 28,546 Crore

Vijayawada: Chief Minister N. Chandrababu Naidu has announced that additional incentives would be provided to industries and projects that invest in the state's backwards regions.

Naidu emphasised that establishing industries would spur development in those regions, create employment for locals and help in ensuring uniform growth across districts. He was chairing the 7th state-level investment promotion board meeting at the state secretariat on Thursday.

The Chief Minister later said, “The SIPB approved 19 projects together worth Rs 28,546 crore. These investments are expected to create employment opportunities for 30,270 individuals. So far, across the seven SIPB meetings, approvals have been given to investments totalling Rs 5,34,684 crore, which could possibly offer jobs to 4,73,969 people.”

Naidu stressed that locals should be placed in the majority of jobs in the new industrial projects in the state. “Therefore, skill development for youth is important.”

He reiterated that the government was committed to balanced development of all regions. “A plan is being drawn up to ensure that incoming investments are distributed evenly across the state.”

Naidu made it clear that companies that were allotted land must establish their units within the stipulated timeline. Officials must engage in discussions with representatives of such companies.

He said MSME parks were being established in every assembly constituency and these should be utilised to promote entrepreneurs under the ‘One Family – One Entrepreneur’ initiative.

The Chief Minister said the details of all industries, projects, investments and the jobs created therein should be placed on an online portal. He suggested mapping of these industries based on clusters. Tourism, IT, and food processing industries should become key drivers of development, he said.

Naidu noted that the state currently has immense potential in these sectors. He proposed developing boat tourism projects near Papikondalu along with the Polavaram project site. Officials must explore the possibility of introducing services of luxury boats and cruise ships in Visakhapatnam and other coastal areas in collaboration with private firms, he said.

Naidu said companies that have signed MoUs in the hospitality sector should expedite their construction work. Officials must ensure that necessary infrastructure is developed near industrial projects. At least two SIPB meetings should be conducted every month, with a target of holding at least 25 meetings annually, he said.

Details of the projects approved at the 7th SIPB meeting on Thursday:

•Raymond – Rs 1,201 crore investment, 6,571 jobs.

• G Infra Precisions Ltd – Rs 1,150 crore, 299 jobs (Anantapur).

• Sangam Dairy Pvt. Ltd – Rs 130 crore, 400 jobs/livelihood opportunities (Tirupati).

• Cognizant Technology Solutions India Pvt. Ltd – Rs 1,583 crore, 8,000 jobs in 3 phases (Visakhapatnam).

• 3F Oil Palm Pvt. Ltd – Rs 224 crore, 750 jobs (East Godavari).

• ABIS Proteins Pvt. Ltd – Rs 350 crore, 790 jobs (Chittoor).

• Reliance Consumer Products Ltd – Rs 1,622 crore, 1,200 jobs (Orvakal).

• Melgawn Leisure & Entertainment LLP – Rs 225 crore, 350 jobs (Eluru).

• Pavani Hotels – Lemon Tree Premier – Rs 80 crore, 300 jobs (Tirupati).

• Green Park Hotels & Resorts Ltd – Rs 145 crore, 250 jobs (Amaravati).

• Berry Alloys Ltd – Rs 573 crore, 320 jobs (Sri Sathya Sai district).

• Chinta Green Energy Pvt. Ltd – Rs 2,323 crore, 540 jobs (Kadapa).

• Adani Renewable Energy Fifty One Ltd – Rs 8,010 crore, 3,500 jobs (Kadapa).

• Channel Play – Rs 80 crore, 1,100 jobs (Kopparthy).

• Adani Hydro Energy Four Ltd & Adani Hydro Energy One Ltd – Rs 10,900 crore, 7,000 jobs (Across various districts).

• Proposals related to additional investments and modifications in projects by BPCL & KSSL, LG Electronics and Krishnapatnam Power Corporation were also discussed.