VIJAYAWADA: After clearing five major investment proposals in the recently held State Investment Promotion Board (SIPB) meeting, the State government on Thursday allotted 860 acres of land in Nellore to Jindal Steel Andhra Limited for setting up a plant. It also announced special incentive packages for garments and other manufacturing industries, which evinced interest in setting up their units in the State.
Jindal Steel Andhra Limited, a joint venture of Jindal Steel and Power Limited (JSPL) and its sister concern Nalwa Steel and Power Limited, has proposed to set up a 2.25 MTPA Integrated Steel Plant with an investment of Rs 7,500 crore (excluding land cost). It is expected to provide direct employment to 2,500 and indirect employment to 15,000 people over a period of four years.
Special Chief Secretary (Industries and Commerce) Karikal Valaven issued an order allotting 860 acres of land at Thamminapatnam and Momidi villages in Chilakur mandal of Nellore district to Jindal Steel Andhra Limited as per the rate fixed by the AP Industrial Infrastructure Corporation (APIIC) for establishing the steel plant with a condition that rehabilitation and resettlement charges, if any, shall be borne by the company.
The government also announced a special package for Ammayapper Textiles Private Limited, which will set up a greenfield denim men’s and kids wear manufacturing unit along with value-added embroidery units at Elakatur village in Nindra mandal of Chittoor district with an investment of Rs 29.05 crore. It will have the potential to generate direct employment for 2,304 people. Considering the proposed unit under the mega project category, the government extended the package, which includes reimbursement of power cost at Rs 1 per unit for five years and 100 per cent reimbursement of State GST for five years and 100 per cent reimbursement of stamp duty on lease deed.
The investment proposal of Pitti Rail and Engineering Components Limited was also considered under the mega project category as per the YSR Jagananna Mega Industrial Hub Policy. The investment is being considered as an early bird or anchor unit coming up in the park. Pitti will be allotted 117.85 acres of land at Kopparthi Industrial Hub in Kadapa at a concessional rate of Rs 10 lakh per acre as against the APIIC land rate of Rs 25 lakh per acre. Apart from this, Pitti Rail will get a 100 per cent reimbursement of stamp duty.