VIJAYAWADA: Andhra Pradesh State Investment Promotion Board (SIPB) on Tuesday cleared a chain of investment proposals for establishing industries in various sectors, including energy, data centre, in the State.
The board, which met under the chairmanship of Chief Minister YS Jagan Mohan Reddy in his camp office at Tadepalli, cleared proposals to the tune of Rs 1.44 lakh crore that would provide employment to over 1.08 lakh people.
During the meeting, the Chief Minister directed officials to stand by the investors and ensure that all projects were launched within a stipulated time. Jagan Mohan Reddy once again reiterated that his government was committed to creating 75 per cent of jobs in all emerging industries for locals.
While clearing the proposals, CM Jagan said, “Important changes have been brought in the energy policy after the YSRC government came to power. The government is paying Rs 31,000 for each acre of land leased to the farmers and it is getting Rs 1 lakh for each megawatt from the power companies.”
The SIPB cleared the proposal of Avisa Foods and Fuels to establish an ethanol manufacturing unit at Mallavalli Park in Krishna district with an investment of Rs 498.84 crore to produce 500 kilolitres of ethanol on a daily basis. The unit would provide employment to at least 3,300 people.
Andhra Paper Mills at Kadiyam would go for an expansion with an investment of Rs 3,400 crore. The expansion would be completed by 2025. This would provide direct employment to 2,100 people.
NTPC would set up New Energy Park at Pudimadaka in the Anakapalli district to produce products of Green Hydrogen, Green Ammonia, Green Methanol and Hydrogen at an estimated cost of Rs 1.10 lakh crore in two phases with each phase receiving an investment of 55,000 crore. The first and second phases of the Energy Park with employment opportunities to 30,000 and 31,000 persons would be completed by 2027 and 2022 respectively.
The Board also cleared the proposal for the Electro Steel Casting Ltd to set up two factories in Srikalahasti and Punganur to manufacture Ferro Alloys and DI pipes with an investment of Rs 1,087 crore providing direct employment to 2,350 persons. Of the total investment, Rs 915.43 crore would be invested at Srikalahasti and construction of both factories would be completed by December 2023.
The Accord Group would set up a factory at Ramayapatnam at an estimated cost of Rs 10,000 crore for making special minerals like copper cathode, copper rod, sulphuric acid and selenium. This would provide direct employment to 2,500 persons and the factory work would begin in May and would be completed by June, 2025.
Meanwhile, the JSW Aluminium Ltd, which withdrew its proposal to set up an Aluminum factory in the backdrop of the government banning bauxite mining in the State, had proposed to set up a MSME Park in the acquired 985 acres of land.
Ecoren Energy India Pvt Ltd would set up wind and solar power projects with 1000 MW capacity each in Anantapur, Sri Sathya Sai, Nandyal and Kurnool districts in four phases with an investment of Rs 10,500 crore. These power units, scheduled to be completed by March 2027, would create as many as 2,000 job opportunities.
Vizag Tech Park Ltd would establish a 100 mw data centre at Kapuluppada in three years with an investment of Rs 7,210 crore by setting up a 10 MW capacity unit in the first phase. “This will provide direct employment to 14,825 persons and indirect employment to 5,625 persons. This is in addition to the 200 mg data park which is already coming up,’’ a release by the CMO said.
Wing Tech Mobile Communications India Pvt Ltd would set up a unit at Tirupati to manufacture semiconductors and optical modules with an investment of Rs 1489.23 crore, which would provide employment to 15,000 people.