SIPB clears investment proposals worth ₹1,44,000 crore in Andhra Pradesh 

Chief Minister Jagan Mohan Reddy asks officials to ensure that 75% jobs in the proposed projects are given to local residents 

February 07, 2023 08:38 pm | Updated 09:45 pm IST - VIJAYAWADA

Chief Minister Y.S. Jagan Mohan Reddy chairing the State Investment Promotion Board meeting at his camp office near Vijayawada on Tuesday.

Chief Minister Y.S. Jagan Mohan Reddy chairing the State Investment Promotion Board meeting at his camp office near Vijayawada on Tuesday. | Photo Credit: Special Arrangement

Ahead of the Global Investors’ Summit-2023 that is scheduled to be organised in Visakhapatnam on March 3 and 4, the Andhra Pradesh State Investment Promotion Board (SIPB) has cleared proposals worth more than ₹1,44,000 crore for establishing several heavy industries in the State.

Chief Minister Y.S. Jagan Mohan Reddy, who presided over the SIPB meeting on February 7 (Tuesday), asked the officials to ensure that 75% of the jobs in all the emerging industries were given to the local residents as per the law enacted.

“Also, take all steps to stand by the industrialists and investors, and ensure that all projects are launched within the stipulated time. Set up a state-of-the-art IT Park at Bhogapuram, near Visakhapatnam, in an area of 90 acres,” the Chief Minister said.

NTPC energy park

The SIPB cleared the NTPC project for setting up a New Energy Park at Pudimadaka in Anakapalli district to produce green hydrogen, green ammonia, green methanol and hydrogen with a total investment of ₹1,10,000 crore in two phases. The first and second phases of the park, with employment opportunities to 61,000 people, would be completed by 2027 and 2033 respectively.   

Avisa Foods and Fuels would establish the ₹498.84-crore ethanol manufacturing unit at Mallavalli Park in Krishna district to produce 500 kl of ethanol daily. This unit would provide employment to 3,300 people directly and indirectly. The work on the project would begin in June and be completed in one year.

Andhra Paper Mills at Kadiyam would go for expansion with an investment of ₹3,400 crore. It would be completed by 2025, providing direct employment to 2,100 people.

Electro Steel Casting Ltd would set up two factories at Sri Kalahasti and Punganur to manufacture ferro alloys and DI pipes with an investment of ₹1,087 crore, providing direct employment to 2,350 people. Construction of both the factories would be completed by December 2023.

The Accord Group would set up a factory at Ramayapatnam with an investment of ₹10,000 crore to make special minerals such as copper cathode, copper rod, sulfuric acid and selenium. This would provide direct employment to 2,500 people. Work on the factory would begin in May and be completed by June 2025.

JSW Aluminium Ltd, which had withdrawn its proposal to set up an aluminium factory in the backdrop of the YSRCP government banning bauxite mining in the State, would now set up a MSME Park in the acquired 985 acres of land.

Wind, solar power projects

Ecoren Energy India Pvt Ltd would set up wind and solar power projects with 1,000 MW capacity each in Anantapur, Sri Sathya Sai, Nandyala and Kurnool districts in four phases with an investment of ₹10,500 crore. These power units, scheduled to be completed by March 2027, would provide employment to 2,000 people. 

The Chief Minister said that his government had brought in important changes in the energy policy under which the government was paying ₹31,000 per acre of leased land to the famers, while receiving ₹1 lakh for each MW from the power companies.

Vizag Tech Park Ltd would establish a 100 MW Data Centre at Kapuluppada in three years with an investment of ₹7,210 crore by setting up a 10 MW capacity unit in the first phase. This would provide direct employment to 14,825 people and indirect employment to 5,625 people. This was in addition to the 200 MW park already coming up.

Wing Tech Mobile Communications India Pvt Ltd would set up a unit in Tirupati to manufacture semi conductors and optical modules with an investment of ₹1,489.23 crore, providing employment to 15,000 people.

Deputy Chief Minister (Panchayat Raj and Rural Development) B. Muthyala Naidu; Minister for Finance Buggana Rajendranath; Industries Minister G. Amarnath; Agriculture Minister Kakani Govardhan Reddy; Minister for Municipal Administration A. Suresh; Chief Secretary K.S. Jawahar Reddy; Special Chief Secretary (Forests, Environment & Science and Technology) Neerabh Kumar Prasad; Special Chief Secretary (Industries and Commerce) R. Karikal Valaven; Special Chief Secretary (Revenue - Commercial Taxes) Rajat Bhargava; Special Chief Secretary (Energy) K. Vijayanand; Special Chief Secretary (GAD) K. Praveen Kumar; Special Chief Secretary (Finance) S.S. Rawat; Principal Secretary (Water Resources) Sashi Bhushan Kumar; Director of Industries Srujana; APPCB Member-Secretary Praveen Kumar; A.P. High Grade Steel Ltd MD Shan Mohan; and NREDC V-C and MD S. Ramana Reddy were present.

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