Several key proposals were approved in the State Investment Promotion Board (SIPB) meeting chaired by Chief Minister Y.S. Jagan Mohan Reddy here on Tuesday.
During the meeting, the Chief Minister directed the authorities to ensure that 75% employment to the local candidates was provided by the companies and also emphasised on environment protection by taking precautions for lowering the impact and moving forward in industrial progress.
The SIPB approved allotment of 860 acres to Jindal Steel Andhra Limited at Thamminapatnam in Nellore district to set up an integrated steel plant with an annual production capacity of 2.25 million metric tonnes at a total investment of ₹7,500 crore. The organisation would provide employment for 2,500 people in four years.
Also, the board approved extension of the deadline to June 2022 for setting up of St. Gobain industry in Visakhapatnam district. The company had requested for an extension due to COVID-19 conditions and came forward to invest ₹2,001 crore in three phases.
Investment in Kadapa dt.
The board also gave approval to Pitti Rail Engineering Components Ltd. at Kopparthi near Kadapa for manufacturing of electrical, locomotive, and industrial infrastructure at an investment of ₹401 crore by creating direct employment to 2,000 people.
Similarly, the board gave its nod for Neelkamal Limited at Kopparthi, which was planning to invest ₹486 crore in the manufacture of furniture and other household items by employing around 2,000 people.
Also, the board approved expansion of GreenTech Industries in the Naidupet area of Nellore district, which supplies steel and iron products to companies such as Ford, Hyundai, Volkswagen and others.
GreenTech, which had already invested ₹750 crore, will invest another ₹627 crore for the expansion and provide an additional 2,200 direct jobs.
SIPB also gave its approval for Ammayapper Textiles Pvt. Ltd. in Chittoor district , which had come forward to invest ₹30 crore, and provide 90% jobs to women.
Besides these, the SIPB approved construction of a mega retail park for Textiles and Garments in five acres at Tadepalli, Guntur district, by investing ₹194.16 crore.
The retail parks will be housing 900 retail units by creating direct employment to nearly 5,000 people, which is indeed a hub for national and international business.
Ministers Dharmana Krishna Das, Buggana Rajendranath, Peddireddy Ramachandra Reddy, Balineni Srinivasa Reddy, Kurasala Kannababu, Mekapati Goutham Reddy, Botcha Satyanarayana, and G. Jayaram, Chief Secretary Adityanath Das, Industries Special Chief Secretary Karikala Valaven, Agriculture Special Chief Secretary Poonam Malakondaiah, Revenue Special Chief Secretary Rajat Bhargav, Finance Principal Secretary S.S. Rawat, Transportation Principal Secretary M.T. Krishna Babu, Energy Secretary N. Srikant, Forest and Environment Secretary Vijay Kumar, Industries Commissioner J Subramaniam and others were present.
