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The State Investment Promotion Board (SIPB) of Andhra Pradesh, headed by chief minister N Chandrababu Naidu, today approved six proposals having a combined investment of Rs 2,003.65 crore. The SIPB clears the investments while granting various incentives available under the industrial policy and beyond, depending on the nature and size of the project.
The largest among these proposals is a greenfield manufacturing facility by Hyderabad-based pharmaceutical company Divi’s Laboratories Limited in East Godavari district. The company proposed an investment of Rs 789 crore with a potential to provide direct and indirect employment to 4,800 people. The state government had already cleared the land allotment for Divi’s project.
Others include, a proposal by Jain Irrigation Systems Limited to invest Rs 365 crore in an integrated food park in Kurnool district. The project will replicate Jain Irrigation’s Jalgaon model wherein the park will cater to the agriculture sector, the micro irrigation industry, food processing industry and other allied technology intensive sectors such as renewable energy and tissue culture, according to the industries department.
The SIPB also cleared two investments in the textile sector. Mohan Spintex, a homegrown company based in Krishna district is planning to set up a composite textile unit, including garments, with an investment of Rs 289.2 crore. Bangalore-based Indian Designs is setting up a garmenting unit with an investment of Rs 33.5 crore at Parigi in Anantapur district, the department said.
Also, Vayhan Coffee Limited (VCL) is investing Rs 275.95 crore to set up a premium instant coffee manufacturing unit at Panguru village in Chittoor district. These projects are expected to generate employment, both direct and indirect, to over 35,000 people, according to the government.
Global investor summit from October 12-14
The state government is planning to organise a global investor summit for three days starting October 12, 2015, on the eve of Hudhud cyclone anniversary. “The summit should reflect the resurgence of Andhra Pradesh’s spirit after Hudhud battered the coastal areas,” the government said in a press release.
During the SIPB meeting, chief minister Naidu also reviewed the performance of single-desk system. The industry department had cleared 216 applications out of the total 417 received by the department.
“Those applications, which have not been cleared, will be given deemed approval from next month. Also the officer concerned, who has delayed the process, will be asked to give an explanation,” the chief minister told the officials.
The officials have also come up with 285 indicators to assess the ease of doing business in the state.
“We are complying with 190 indicators while 50 do not apply to the state. This puts AP’s ease of doing business at around 70 per cent,” informed an official.
