Andhra Investment Promotion Board approves investment worth Rs 31,167cr

Amaravati, April 10 (IANS) Andhra Pradesh’s State Investment Promotion Board on Thursday approved investment proposals to the tune of Rs 31,167 crore.

The State Investment Promotion Board (SIPB), at its meeting chaired by Chief Minister N. Chandrababu Naidu, cleared the investment by 17 organisations in various sectors like food processing, IT and energy. These investments are expected to create 32,633 jobs.

The Chief Minister made it clear that investments taking shape at the ground level are as important as investments coming to the state.

He told the officials that the respective industries launching production on time is very important. He stated that when a project is approved, it is necessary to take the details from them on the date of starting production, and the phase-wise progress of such projects should be closely monitored.

The Chief Minister directed the officials to provide the details in the next SIPB meeting on how many companies have launched production till and how many jobs have been created.

Chandrababu Naidu also told the officials to create a portal with the details on which organization has provided how many jobs and to whom.

Minister for Education, IT, and Electronics, Nara Lokesh, who participated in the meeting, made an appeal to the Chief Minister to allot lands to IT companies at a nominal price.

He said this would provide an opportunity to attract more IT companies to the State. The Chief Minister said that the necessary IT policy would be amended for this purpose.

In all the five SIPB meetings held till now after the TDP-led NDA government was formed, 57 organisations have been given approval for investments to the tune of Rs 4,71,379 crore, which will create 4,17,188 jobs.

The coalition government said the previous government of YSRCP had conducted only five SIPB meetings in five years.

The investments approved at Thursday’s meeting include Rs 2,063 crore investment by Ma Mahamaaya Industries Limited, Vizianagaram district to generate 1,000 jobs, Premier Energies Limited at MP SEZ, Naidupet will invest Rs 4,200 crore and this would provide 1,500 jobs. LG Vendors at Sri City of Tirupati district will invest Rs 839 crore to provide 692 jobs.

–IANS

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