Jagan clears Rs 2,134 crore private investment for Andhra; 7683 to get jobs

The SIPB met at the Chief Minister's Camp Office at Tadepalli on Tuesday, cleared these proposals, which would provide indirect employment to 7,683 persons in the state.

By Newsmeter Network  Published on  17 Nov 2021 3:20 AM GMT
Jagan clears Rs 2,134 crore private investment for Andhra; 7683 to get jobs

Vijayawada, November 16: Andhra Pradesh chief minister YS Jagan Mohan Reddy-led the State Investment Promotion Board (SIPB) has cleared investment proposals worth Rs 2,134 crore through five industries in the state.

The SIPB met at the Chief Minister's Camp Office at Tadepalli on Tuesday, cleared these proposals, which would provide indirect employment to 7,683 persons in the state.

The SIPB Aditya Birla Fashion and Retail Ltd would come up at Pulivendula in Kadapa district at a cost of Rs 110 crore. The project will provide direct employment to 2,112 persons in the manufacture of jackets and trousers.

Century Ply would establish a unit at Badvel in Kadapa district at a cost of Rs 956 crore thus providing direct employment to 2,266 persons. The unit would also encourage farmers to grow eucalyptus plantations on 22,500 acres. The unit is also expected to buy Rs 315 crore worth of eucalyptus trees from the farmers for the unit.

AIL Dixon Technologies Limited had also come forward to invest Rs 127 crore to establish a camera manufacturing unit in the Kopparthy industrial cluster in the Kadapa district. This unit would provide direct employment to 1800 persons.

AIL Dixon Technologies would also establish laptops, tabs manufacturing unit with an investment of Rs 80 crore. The unit would provide direct employment to 1100 persons.

The SIPB also cleared the proposal to establish a unit to manufacture industrial chemicals by the Grasim Industries. The firm would invest Rs 861 crore and provide direct employment to 400 persons.

The SIPB had however not cleared Grasim's proposal not to establish a thermal power plant as the local people were opposing it.

Jagan told officials to be cautious while allocating land for the industries. He also told them to consider land allocation for the existing industries wherever the land is available. He also told the officials to provide basic infrastructure in the area before giving permission to any industry.

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