Proposals worth Rs 10591cr cleared for Andhra

The State Investment Promotion Board (SIPB) headed by chief minister YS Rajasekhara Reddy on Monday cleared investment proposals of seven companies with a combined investment of Rs 10,591 crore.

With this, respective investment plans of these companies are entitled to incentives and infrastructure facilities provided in the state industrial policy.

These include two proposals with heavy investment "" Bramhani Industries Limited, which has proposed a 2-million tonne capacity integrated steel plant at Kadapa with an investment of Rs 4,500 crore in the first phase and Solar Semiconductor Private Limited, which has proposed a photovoltaic solar cell, PV solar module assembly line unit, at Fab City. Solar too will invest Rs 4,500 crore in the project.

Nod was also give to a greenfield special alloy steel plant with a 2.5-lakh tonne annual capacity to produce bars, rods, wire rods, bright bars proposed to be set up by RKKR Steels Limited in Nellore district with an investment of Rs 330-400 crore.

The AGI Blaspac-promoted container glass unit, proposed to be set up in Nalgonda district with an investment of Rs 500 crore was also cleared by the board. The Amaravathi Textiles Private Limited proposal to set up a one lakh-spindle capacity spinning mill in Prakasam district with an investment of Rs 361 crore, also received the approval.

The other significant investment proposal, cleared by the SIPB, is the MRF Limited's expansion plan. The company has proposed to invest Rs 300 crore in its tyre manufacturing facility in Medak district to expand the capacity by 30,000 tonnes annually.

The board also cleared the maintenance repair and overhaul (MRO) facility proposed by GMR Hyderabad International Airport-Lufthansa Technic AG (LHT) with Rs 100 crore investment, according to a press release issued by the chief minister's office.