VIJAYAWADA: The State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N Chandrababu Naidu at the State Secretariat on Tuesday, cleared investment proposals to the tune of Rs 85,083 crore.
In its maiden meeting after the formation of the TDP-led NDA government, the SIPB discussed the investment proposals and agreements signed with various firms during the past five months
While seven firms that come under the purview of Industries and Commerce Department will invest a total of Rs 73,181 crore, and provide employment to 27,891 people, proposals of three companies to invest Rs 11,902 crore will generate employment for 6,075 people in the energy sector.
ArcelorMittal Nippon Steel India Pvt Ltd will establish an integrated steel plant (including capital port) at Bangarayyapeta. It will initially invest Rs 61,780 crore to provide employment to 21,000 people by completing the first phase of the project by 2029.
LG Electronics India Pvt Limited will invest Rs 5,001 crore, providing 1,495 jobs. Kalyani Strategic Systems Limited will set up a plant with Rs 1,430 crore providing 565 jobs, Phillips Carbon Black Limited will provide 200 jobs with an investment of Rs 3,798 crore and Azad India Mobility Limited with an investment of Rs 1,046 crore will generate employment for 2,381 people.
Compete with other States to attract investments, CM exhorts officials
Similarly, Astha Green Energy Ventures India Pvt Ltd will invest Rs 8,240 crore and provide employment to 4,000 people, Greenko APo1 IREP Infra Pvt Ltd will invest Rs 2,000 crore and provide 1,725 jobs.
The Chief Minister urged officials to strive to attract investments to AP by withstanding the stiff competition from all other States. Mentioning that due to the adverse policies adopted by the previous government there were absolutely no investments in the State during the past five years, he said even those who signed MoUs had left AP.
He said all those who come forward to invest in the State should be accorded high respect, and the officials should extend all kinds of cooperation to them. Only then the youth will get employment opportunities, he said and added that if a discussion begins on one particular investment it should be tracked continuously till it materialises. The officials informed him that the previous dispensation paid only Rs 1,961 crore as incentives to the companies, while the earlier TDP regime had paid Rs 3,883 crore. Naidu felt that besides meeting the needs of the companies, the officials should also take care of the welfare of those who provide lands for the setting up of industries.
He advised the officials to adopt the land pooling system while acquiring land for ArcelorMittal steel plant, and adopt three types of land acquisition, while allotting lands to the companies.
The officials should be very transparent in land pooling like in case of Amaravati.
As a second option, those who are coming forward voluntarily to give their lands, should be given proper training in skill development, and necessary employment be provided. Otherwise, land should be acquired by paying the best available package to land owners. Naidu fully supported the opinion of Deputy Chief Minister Pawan Kalyan that investments are important but at the same time the future of those who are coming forward to donate their lands is equally important.
Chairman of Sub-Committee on Providing 20 lakh Employment N Lokesh, Ministers Keshav, Atchannaidu, Narayana, Bharath, Durgesh, Subhash, Ravi Kumar, Satya Prasad and Janardan Reddy, CS Neerabh Kumar Prasad and other senior officials were present.
