Vijayawada: Chief Minister N. Chandrababu Naidu approved five new proposals at a meeting with the Special Investment Promotion Board (SIPB), all of which will bring into the state, massive employment opportunities. According to the SIPB’s report, all large and mega industrial projects in the state received a total committed investment of Rs 2,84,153 crore and a total committed employment of 4,34,161.
During the meeting held in his residence on Tuesday, the SIPB presented the five proposals for his perusal and approvals and discussed the incentives that they collectively recommended. The Chief Minister said that the incentives provided to the industries must be liberally designed so that Andhra Pradesh continues to welcome more industries to develop the state.
An IT firm, Conduent Inc., will be investing Rs 649 crore for their project in Visakhapatnam. The project includes diversified business process services and generates direct employment for 5,000 people. Gouttephone Technologies (P) Limited, an electronic goods manufacturing company, will set up a unit in 5 acres for touch panel manufacturing at Atchutapuram and Visakhapatnam. Their investment amounts to Rs 504.07 crore and committed employment (direct) to 300 people.
