Vijayawada

Investments pouring into State: Yanamala

Finance Minister Yanamala Ramakrishnudu has said that 417 industrial units, with an outlay of Rs.1,23,973 crore, have been set up in the State in the last two years and some more projects, with an investment of Rs. 2.09 lakh crore, would take off soon.

These are among 800 project proposals received in the last couple of years with investment amounting to Rs.5 lakh crore.

Clearances were given to projects with investment of nearly Rs.7,330 crore on Friday at the State Investment Promotion Council (SIPC) meeting here.

These projects are in Anantapur, Chittoor, Krishna, Nellore, and Visakhapatnam districts.

Addressing the media later, Mr. Ramakrishnudu said 203 out of 417 units started commercial production and 11 projects with an investment of Rs.12,600 crore were in the Detailed Project Report stage.

The projects have the potential to generate employment for 10 lakh persons. Proposals with an investment outlay of Rs.16,000 crore would be taken up in the next SIPC meeting, he said, adding that Visakhapatnam would host the CII Partnership Summit in January 2017.

Mr. Ramakrishnudu said incentives amounting to Rs.2,000 crore were disbursed to bailout sick enterprises in the MSME (micro, small and medium enterprises) segment in the last two years.

Minister for Employment K. Atchannaidu and A.P. State Planning Board Deputy Chairman C. Kutumba Rao were among those present in the SIPC meeting.

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Printable version | Aug 3, 2020 5:52:12 PM | https://www.thehindu.com/news/cities/Vijayawada/Investments-pouring-into-State-Yanamala/article14479682.ece

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