AP approves investments worth Rs. 81,000 cr, aims to create 20,130 jobs

Chief Minister Y.S. Jagan Mohan Reddy chaired a review meeting with the State Investment Promotion Board (SIPB) where they discussed 10 new projects to be established in the state

By Newsmeter Network  Published on  6 Sep 2022 2:30 AM GMT
AP approves investments worth Rs. 81,000 cr, aims to create 20,130 jobs

Amaravati: In a major boost to the green energy sector, the Andhra Pradesh government approved investments worth Rs. 81,000 crores with an aim to generate direct employment for 20,130 people.

Chief Minister Y.S. Jagan Mohan Reddy chaired a review meeting with the State Investment Promotion Board (SIPB) where they discussed 10 new projects to be established in the state.

Speaking to the officials, Jagan said, "Large-scale enterprises are set to create a wave and stand as an example to the country through the green energy sector. Thousands of jobs will be generated through these projects. Farmers, too, are set to earn more through these projects, up to Rs.30,000 per acre, per year will be generated if lands that do not generate much income are given on lease."

Here are the details of the projects:

1. Causis e-Mobility Private Limited – Kopparthy, YSR district

With 100% EV eco system, the project provides complete green solution with an investment of Rs. 386.23 crores (Rs. 286.23 crores for the EV plant and Rs. 100 crores for the charging infrastructure). The project brings in the latest technology in manufacturing electric buses with a target of manufacturing 1,000 electric buses under phase I. The project is set to generate employment for 1,200 people.

2. Lyfius Pharma – Kakinada SEZ

Aiming to set up by April 2024, the company is set to invest Rs. 1,900 cores and provide employment opportunities to close to 2,000 people. The government is taking steps to achieve self-sufficiency without relying on Chinese imports in API drug manufacturing. The company has already acquired 236.37 acres.

3. Indosol Solar Pvt Ltd – Ramayapatnam, Nellore district

In one of the mega-investment projects, Indosol Solar will set up a manufacturing industry, 50 GW and 10 GW solar power projects across 5,147 acres of land at Ramayapatnam in Nellore district. The total investment will be Rs. 43,143 crores to be spent in three tranches. It will provide 11,500 direct and 11,000 indirect jobs.

4. Avisa Food Private Limited Mega Foodpark – Mallavalli, Krishna district

With an investment of Rs. 150 crores, the project aims to provide jobs to 2,500 people. The company promises to complete the project by March 2023; 11.64 acres of land have been allotted for this purpose.

5. Astha Green Energy Ventures Pvt Ltd – Vongimalla Village, Veeraballi taluka, YSR district

This project aims to set up 1,800 MW hydro storage power with an investment of Rs. 8,240 crores. It will provide direct employment to 4,000 people. The project is set up on 1,390 acres of land in Vongimalla, YSR district, and is set to be completed by December 2029.

6. Shirdi Sai Electricals Limited – Somasila & Yerravaram

Two-pumped hydro storage power projects have been approved at Somashila and Erravaram where Shirdi Sai Electricals Limited is going to set up projects to generate 900 MW at Somashila and 1,200 MW at Yerravaram. The company is set to spend Rs. 8,855 crores for a total of 2,100 MW project and create direct employment opportunities for 1,600 people. They plan to complete it by July 2029.

7. Aurobindo Realty, Infrastructure Ltd – Owk, Nandyal district & Singanamala, Anantapuramu

Another two-pumped hydro storage projects will be set up at Owk and Singanamala. Aurobindo Realty, Infrastructure Ltd. to set up 800 MW power generation projects at Owk and 800 MW at Singanamala. The total investment in these projects will be Rs. 6,315 cores. They will create direct employment for 1,600 people. The project is set to be completed by December 2028.

8. Indosol Solar Pvt. Ltd. – Paidipalem, YSR district

The company is set to invest Rs. 33,033 crores on a 7,200 MW power projects. These projects are set to provide direct employment to 7,200 people and will be completed by December 2028.

9. AM Green Energy Private Limited – Nandyal, Kurnool

AM Green Energy Private Limited will set up solar and wind power projects in Kurnool and Nandyala districts with an investment of Rs. 5,000 crores. This will create jobs for 1,000 people. The company will set up 700 MW solar and 300 MW wind power projects with an aim to complete them by March 2025.

10. Greenko AP01 IREP Pvt Ltd – Nandyal, Kurnool

Greenko will set up a 1,680 MW pumped storage project, 2,300 MW solar, and 250 MW wind projects with a total investment of Rs. 19,600 crores, generating employment for 4,230 people. The project is set to be completed by September 2026.

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