Andhra Pradesh govt clears investments worth Rs 31,167 cr by 17 companies

In all five SIPB meetings held so far since TDP-led NDA government was formed, 57 organisations have been given approval for investments to tune of Rs 4.71 trillion, which will create 4.17 lakh jobs

The government of Andhra Pradesh on Thursday cleared investment plans to the tune of Rs 31,167 crore by 17 companies in sectors like information and communication, food processing, information technology and energy.

 

At the fifth State Investment Promotion Board (SIPB) meeting, the government cleared proposals by Ma Mahamaaya Industries (Rs 2,063 crore), Premier Energies (Rs 4,200 crore), LG Vendors (Rs 839 crore), and investment proposals by another 14 companies. These investments will create around 32,633 jobs.

 

In all the five SIPB meetings held so far since the TDP-led NDA government was formed, 57 organisations have been given approval for investments to the tune of Rs 4.71 trillion, which will create 4.17 lakh jobs. A government statement said that while the previous government had conducted only five SIPB meetings in five years, the NDA regime has already organised five meetings.

 

 

The project by Premier Energies at MP SEZ in Naidupet will create 1,500 jobs, Ma Mahamaaya in Vizianagaram around 1,000 jobs, and LG Vendors at Sri City of Tirupati district around 692 jobs.

 

Chief Minister Chandrababu Naidu on Thursday said that investments taking shape at the ground level is as important as investments coming to the state. At the SIPB, he told the officials that the respective industries launching production on time is very important. Naidu made it clear to the officials that when a project is approved, it is necessary to take 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 so far and how many jobs have been created. He also told the officials to create a portal with details on which organisation has provided how many jobs and to whom.

 

The minister for education, information technology and electronics, Nara Lokesh, who took part in the meeting, made an appeal to the chief minister to allot land to information technology companies at nominal prices, which he said would provide an opportunity to attract more information technology companies to the state. The chief minister said that the necessary information technology policy be amended for this purpose.