VIJAYAWADA: The fifth State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N Chandrababu Naidu at the State Secretariat on Thursday cleared investment proposals to the tune of Rs 30,667 crore.
The SIPB meeting approved investments by 17 organisations in sectors like I and C, food processing, IT and energy to create 32,133 jobs. During all the five meetings held so far after the formation of the coalition government, investment proposals to the tune of Rs 4,70,879 crore related to 57 firms were cleared. A total of 4,16,688 jobs will be provided.
While only five SIPB meetings were conducted in the five years tenure of the previous YSRC regime, the coalition government conducted five SIPB meetings in less than a year.
Speaking on the occasion, the CM made it clear that investments taking shape at ground-level is as important as investments coming to the State. The CM told the officials that the respective industries launching production on time is very important and made it clear to the officials that when a project is approved it is necessary to take the details from them on the date of starting production and the phase-wise progress of such projects should be closely monitored.
The CM directed the officials to provide the details in the next SIPB meeting on how many companies have launched production till and how many jobs have been created. Naidu also directed the officials to create a portal with the details on which organisation has provided how many jobs and to whom.
Minister for Education, IT and Electronics Nara Lokesh, made an appeal to the Chief Minister to allot lands to IT companies at nominal price which, he said will provide an opportunity to attract more IT companies to the State.
New investments set to strengthen AP economy
The Chief Minister said that the necessary IT policy be amended for this purpose.
The investment proposals approved by the SIPB include Maa Mahamaya Industries Limited, Vizianagaram district with an investment of Rs 2,063 crore to generate 1,000 jobs, Premier Energies Limited at MP SEZ, Naidupet with Rs 4,200 crore investment to provide 1,500 jobs, LG Vendors at Sri City of Tirupati district with Rs 839 crore investment to give jobs to 692 persons, Urla Clusters Private Limited to invest Rs 5,278 crore generating employment to 2,500 persons in Visakhapatnam, Tata Consultancy Services at Visakhapatnam to invest Rs 1,370 crore and generate 12,000 jobs, Chinta Green Energy Private limited to invest Rs 7,000 crore and 2,450 crore in Sri Sathya Sai and Anantapur districts respectively, Renew Vikram Sakthi Limited to invest Rs 3,000 crore in Anantapur district, JSW Neo Energy Limited to invest Rs 660 crore to provide employment to 110 persons in Kurnool district.
Investment proposals of some more companies also got the nod of the SIPB.