JSW to Hayat: Jagan approves 8 private sector projects with investment of Rs 13,295 Cr
Hayat Group's proposal to establish Hayat International Hotel at Peruru near Tirupati was also approved by the SIPB with an investment of Rs 218 crore. It will be completed in three years, providing direct employment to 260 individuals and indirect employment to 1,296 individuals.
By Newsmeter Network Published on 12 July 2023 5:39 AM GMT
Amaravati: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy approved eight projects in the renewable energy and hospitality sectors which will bring an investment of Rs 13,295 crore to the state.
Chairing State Investment Promotion Board (SIPB) meeting at the Camp Office, Jagan directed officials to enforce the specially enacted law that mandates 75% of jobs to locals in private and government-sponsored industries in the State.
He stated that the implementation of the Act guaranteeing employment to locals must be monitored by the District Collectors, who are required to send reports every six months.
Additionally, the CM directed officials to focus on developing desalinated water and supplying it to the new units to prevent future water scarcity for agriculture and drinking purpose. He asked officials to follow Israel's desalination methods. He asked to ensure that companies pay the Minimum Support Price (MSP) to farmers when purchasing their crop produce.
New projects approved:
JSW Neo Energy received approval to establish a 1500 MW hydro storage power project with an investment of Rs 8,104 crore at Bakkannavari Palli of Vempally Mandal in the YSR district. The project will produce 3,314.93 million units of power annually and employ 1,500 individuals. The work is scheduled to commence in December 2024.
Hero Future Energies' affiliated company, Clean Renewable Energy, will establish a 225 MW solar unit at Kotapadu in Nandyala district, along with 150 MW wind power units at Boyala Uppuluru in Anantapur district and in Nandyal and YSR districts. The company will invest Rs 2,450 crore and initiate the work in October 2023, completing the final phase in 2025. It will provide employment to 375 individuals.
A hotel and resort in Annavaram, Visakhapatnam district, by MayFair Hotels. The project, comprising villas, a shopping mall, and a golf course, will be completed in four years with an investment of Rs 525 crore. It will provide direct and indirect employment to 750 individuals.
Hayat Group's proposal to establish Hayat International Hotel at Peruru near Tirupati was also approved by the SIPB. The hotel will require an investment of Rs 218 crore and will be completed in three years, providing direct employment to 260 individuals and indirect employment to 1,296 individuals.
CCL Food and Beverages obtained approval to set up a unit at Krishnapalem near Achtutapuram in Visakhapatnam district with an investment of Rs 1,200 crore, employing 1800 individuals.
CCL Food and Beverages received approval for another project to establish a unit at Varadayapalem in Tirupati District. This project will require an investment of Rs 400 crore, providing direct and indirect employment to 950 individuals and benefiting 2,500 coffee farmers. The unit will produce 16,000 tons of coffee annually.
Gokul Agro Resources will establish an edible oil-making unit at Krishnapatham in Nellore district with an investment of Rs 230 crore, employing 1200 individuals and benefiting 2500 farmers.
Gokul Agro will also establish a coco butter and powder-making unit at Sri City in Tirupati district with an investment of Rs 168 crore, providing direct employment to 250 individuals and indirect employment to 800 individuals. It will also benefit 3000 farmers.
