VIJAYAWADA: The State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister YS Jagan Mohan Reddy on Thursday, gave its nod for setting up of a bioethanol plant at Sarvepalli in Nellore district.
Krishak Bharati Cooperative Limited (KRIBHCO) will set up the 250 KLD capacity plant at an estimated cost of Rs 560 crore in 100 acres, providing direct employment to 400 people. KRIBHCO representatives informed the government about their plans to set up seed and other processing units in the State.
The meeting also decided to lay emphasis on the Andhra Pradesh Exports Promotion Policy 2022-27 to encourage exports in a big way. A target to double the exports from the State in the coming five years has been set.
The meeting took several decisions to achieve Rs 3.5 lakh crore exports from the State in the coming five years. The SIPB meeting also approved some more incentives under the Andhra Pradesh Logistics Policy 2022-27.
Speaking at the meeting, the Chief Minister directed officials to take steps to boost the aqua product exports from the State by laying emphasis on quality. At present, AP accounts for 46 per cent of the country’s marine product exports and share of the State should increase further to earn more revenue, he asserted.
The Chief Minister underscored the need for continuous monitoring of approvals being given to industries through a single desk system as necessary changes have been rolled out to ensure more transparency. The officials should take steps for setting up a data centre in Visakhapatnam at the earliest, he said.
Ministers Budi Mutyala Naidu (Panchayat Raj), Buggana Rajendranath (Finance), Dharmana Prasada Rao (Revenue), Peddireddy Ramachandra Reddy (Energy), Gudivada Amarnath (Industries), A Suresh (Municipal Administration), Kakani Govardhan Reddy (Agriculture), Gummanur Jayaram (Labour) and RK Roja (Tourism), Chief Secretary Sameer Sharma and other officials were present.