VIJAYAWADA: The State Investment Promotion Board (SIPB) meeting, under the chairmanship of Chief Minister N Chandrababu Naidu, gave the approval for investments to a tune of Rs 1.82 lakh crore through nine projects which would provide employment to 2.63 lakh people.
While clearing the investment proposals at the meeting held at Secretariat on Monday, the Chief Minister directed the officials to see to it that all the necessary permissions, including allocation of land are granted in time to those who are coming forward to invest in the State.
Among the nine projects, Bharat Petroleum Corporation Limited (BPCL) is setting up a major refinery on an extent of 6,000 acres at Ramayapatnam in Nellore district with an investment of Rs 96,862 crore creating 2,400 jobs. BPCL is also planning a township with five blocks comprising a learning centre, refinery, petrochemical unit and an administrative block, the officials told the Chief Minister.
The State will get Rs 88,747 crore revenue through this project in the next 20 years, they said while the Chief Minister instructed the officials to take steps to complete the project before 2029.
The Tata Consultancy Services (TCS) is investing Rs 80 crore in an area of 2.06 lakh square feet at Millenium towers in the port city of Visakhapatnam providing 2,000 jobs.
The Azad India Mobility Limited is setting up a green project to manufacture electric buses, three-wheelers and battery packs in an extent of 70.71 acres at Gudipalli in Satya Sai district in an estimated cost of Rs 1,046 crore in the coming six years providing employment to 2,381 persons.
The Balaji Action Buildwell Pvt Ltd is setting up a plant in 106 acres at Rambilli in Anakapalle district with an investment of Rs 1,174 crore to create 1,500 jobs while several industrialists are ready to invest heavily in the State as they got attracted by the clean energy policy adopted recently by the State government.
Different projects at an estimated investment of Rs 83,000 crore will be set up in the State to provide employment to 2.5 lakh people.
AM Green Ammonia (India) Private Limited will invest Rs 12,000 crore for setting up Green Hydrogen based Ammonia Manufacturing unit across an area of 592 acres at Kakinada and providing employment to 2,600 persons.
The Tata Power Renewable Energy Limited is establishing a solar power project to generate 400 megawatts of power at Hosur village in Kurnool district in an extent of 1,800 acres with an investment of Rs 2,000 crore creating 1,380 jobs. Also, several other power projects are coming up in Kadapa district while Reliance Industries Limited is investing Rs 65,000 crore to provide employment to over two lakh people.
He told the officials to provide all the basic amenities to industries on a war footing to enable the projects to be completed in the stipulated time. Naidu also directed the officials to attract more investments to the State through the incentives and subsidies being extended to the industries.
The Chief Minister also enquired about the details of the progress in the projects which were cleared during the SIPB meeting held on November 19 during the meeting.