SIPB meeting okays investments by 17 companies; Rs.31,167 crore expected: CM Naidu
In all the five SIPB meetings held till now since June last, 57 organisations have been given approval for investments totalling Rs.4,71,379 crore, which would create 4,17,188 jobs
Vijayawada: Chief Minister N. Chandrababu Naidu made it clear on Thursday that the state would get investments of Rs.31,167 crore from 17 companies.
Chairing the fifth State Investment Promotion Board (SIPB) meeting at the Secretariat, Naidu told the officials that it was also important that these industries started production on time.
He said, “When a project is approved, it is necessary to take the details from the entrepreneur on the date of starting the production. The phase-wise progress of such projects should be closely monitored.”
“The SIPB meeting approved investments by 17 organisations in sectors like industries and commerce, food processing, IT and energy to create 32,633 jobs. Officials must provide the details in the next SIPB meeting on how many companies have launched production till then, and how many jobs have been created,” he said.
The CM asked the officials to create a portal with the details as to which organisation provided how many jobs and to whom.
IT minister, Nara Lokesh, who took part in the meeting, made an appeal to the CM to allot lands to applicant units at a nominal price, which, he said, would help attract more IT companies to the state. Naidu said the IT policy would be amended for this purpose.
In all the five SIPB meetings held till now since June last, 57 organisations have been given approval for investments totalling Rs.4,71,379 crore, which would create 4,17,188 jobs. The previous government had conducted only five SIPB meetings in five years.
Details of the investments approved on Thursday were of the Ma Mahamaaya Industries Ltd, Vizianagaram district, to an extent of Rs.2,063 crore to generate 1,000 jobs; the Premier Energies Ltd at MP SEZ, Naidupet, with Rs.4,200 crore investment to provide 1,500 jobs; the LG Vendors at Sri City in Tirupati district with Rs.839 crore investment to give jobs to 692 persons, apart from 14 other companies which were given the consent at Thursday's SIPB meeting.
