Andhra Pradesh State Investment Promotion Board clears investment proposals worth ₹19,037 crore

Pepper Motion’s electric bus manufacturing unit at Punganur, JSW industrial park at S. Kota, Coastal Andhra Power Limited’s green hydrogen and green ammonia unit at Krishnapatnam are among the proposals cleared

October 30, 2023 07:56 pm | Updated 07:56 pm IST - GUNTUR

Chief Minister Y.S. Jagan Mohan Reddy chairing the SIPB meeting at the CMO at Tadepalli on Monday.

Chief Minister Y.S. Jagan Mohan Reddy chairing the SIPB meeting at the CMO at Tadepalli on Monday. | Photo Credit: Special Arrangement

Andhra Pradesh State Investment Promotion Board (SIPB), in a meeting chaired by Chief Minister Y.S. Jagan Mohan Reddy on October 30 (Monday), approved investment proposals of ₹19,037 crore, with an employment potential of about 69,565.

As per the proposals, Pepper Motion would set up a manufacturing unit of electric buses with an investment of ₹4,640 crore at Punganur in Chittoor district. The project would create employments for 8,080 people.

JSW would set up an industrial park at S. Kota in Vizianagaram district with an investment of ₹531 crore, creating direct and indirect employment for 35,750 and 9375 people respectively.

Sreyas Industries Limited would set up its unit at Ranasthalam in Srikakulam district with an investment of ₹1750 crore. The project would create direct and indirect employment for 2,000 and 500 people respectively.

The SIPB approved a proposal of Substrate India Manufacturing Private Limited to set up a AI electronic product manufacturing unit in the Atchutapuram SEZ in Anakapalli district with an investment of ₹166 crore, providing jobs to 5,000 persons.

Coastal Andhra Power Limited (Reliance Power) would transform its thermal power unit at Krishnapatnam in Nellore district into a green hydrogen and green ammonia unit, with an investment of ₹6,174 crore. The project has the potential to create direct and indirect employment for 600 and 2,000 persons respectively. 

The SIPB also gave its nod to the proposal of Andhra Paper Limited to expand its unit at Kadiyam in East Godavari district with an investment of ₹4,000 crore. The project has potential to create employment for 3,000 people.

The proposal of ATC Tires to expand its unit in the Atchutapuram SEZ with an investment of ₹679 crore was also approved. The project would create employment for 300 people.

Electro Steel Casting Limited would expand its unit at Srikalahasti in Tirupati district with an investment of ₹933 crore, creating employment for 2,100 people.

Sri Venkateswara Bio-Tech would establish its unit at Kommuru in Eluru district with an investment of ₹114 crore. The project has the potential to create jobs for 310 persons.

Orill Food Private Limited would establish its unit at Maddi in Visakhapatnam district with an investment of ₹50 crore. It will provide employment to 550 persons.

“With utmost transparency in the implementation of the industrial policy, Andhra Pradesh stood first in the Ease of Doing Business. We shall continue the journey by creating more favourable conditions for investors so that more industries would be set up in the State”Y.S. Jagan Mohan ReddyChief Minister

“With utmost transparency in the implementation of the industrial policy, Andhra Pradesh stood first in the EoDB (Ease of Doing Business). We shall continue the journey by creating more favourable conditions for investors so that more industries would be set up in the State,” said the Chief Minister.

Energy Minister P. Ramachandra Reddy, Finance Minister B. Rajendranath Reddy, Municipal Administration Minister A. Suresh, IT and Industries Minister G. Amarnath, Tourism Minister R.K. Roja, Chief Secretary K.S. Jawahar Reddy and other senior officials participated in the SIPMB meeting held at the Chief Minister’s Office (CMO).

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