HomeIn The FrameAP Govt. clears over Rs 44K Crs in new Investments

AP Govt. clears over Rs 44K Crs in new Investments

Published on

Navayuga Engg., Megha Engg., Tata Power, Coromandel among the fray

In the 3rd meeting of the State Investment Promotion Board (SIPB), chaired by Chief Minister Mr Nara Chandrababu Naidu at the Secretariat approval was granted for 15 projects.

These projects are worth a whopping Rs. 44,776 crore of investments.

With this, the total value of investments approved by SIPB has surpassed Rs. 3 lakh crores, stated an official release from the state government.

The release further mentioned that projects like ArcelorMittal Steel (with an investment of Rs. 1.36 lakh crore) and BPCL (with an investment of Rs. 96,000 crore) are set to break ground within the next three months.

The CM instructed officials to complete all necessary permissions and get these projects on the ground as soon as possible.

In the past 7 months, the state government’s policies and support have been effectively attracting investments. In the first SIPB meeting, investments worth Rs. 83,987 crore were approved, and in the second SIPB meeting, investments of Rs. 1,82,162 crore were approved.

Since the coalition government took office, SIPB has approved investments worth Rs. 3,10,925 crores, which will employ 3,12,576 people, noted the release.

The CM has instructed officials to track investments closely to ensure that projects are implemented quickly. He directed that the progress of every project with an investment of over Rs. 10 crores must be tracked.

He also advised officials to review permissions at the district level with collectors to remove any on-ground obstacles.

The CM further emphasised using every opportunity to secure investments for the state, including focusing on the tourism sector to achieve 20% growth in this area.

The 15 projects approved in the 3rd SIPB meeting will come in the sectors of renewable energy and food processing. Details of these new projects are as follows:

Navayuga Engineering

Navayuga Engineering is setting up a 1,500 MW project in Gojjili, Alluri Sitarama Raju district, and an 800 MW project in Chitthamvalasa, with an investment of Rs. 14,328 crore. These projects will provide employment to 3,450 people.

Megha Engineering (MEIL)

Megha Engineering and Infrastructure Ltd. is setting up a pumped storage project in Kommuru, Annamayya district, with an investment of Rs. 10,300 crore, providing employment to 3,000 people.

Aspari

Aspari Renewable Private Limited is setting up a 118.80 MW wind power project in Anantapur and Sri Satyasai districts, with an investment of Rs. 972.23 crore. This project will provide employment to 150 people.

Anantapur Renewable Private Limited

Anantapur Renewable Private Limited is setting up a 178.20 MW wind power project in Anantapur with an investment of Rs. 972.23 crore, providing jobs to 225 people.

Kadapa Renewable Private Limited

Kadapa Renewable Private Limited is setting up a 231 MW wind power project in Sri Satyasai district with an investment of Rs. 1,163.11 crore, creating employment for 300 people.

Ecoren Energy India

Ecoren Energy India Pvt. Ltd. is setting up a 201.30 MW wind power project in Anantapur and Sri Satyasai districts with an investment of Rs. 1,651 crore, providing employment to 255 people.

Ayana Power

Ayana Renewable Power Pvt. Ltd., part of Ecoren Limited, is setting up a renewable energy plant in Kurnool district with an investment of Rs. 4,435 crore, with a capacity of 498.30 MW. This project will provide employment to 630 people.

Ampin Energy

Ampin Energy Transition Pvt. Ltd., also from Ecoren Limited, is setting up a 350 MW wind-solar hybrid power center in Kurnool and Nandyal with an investment of Rs. 3,142 crore. The project will generate 1,200 jobs.

SAEL

SAEL Solar is setting up two 300 MW solar power plants, totaling 600 MW, with an investment of Rs. 3,456 crore in Anantapur, Kadapa, and Nandyal, providing employment to 2,070 people.

Tata Power

Tata Power is setting up a 400 MW solar power center in Anantapur with an investment of Rs. 2,000 crore. This project will create 1,380 jobs.

NSL Renewable CPP

NSL Renewable CPP Pvt. Ltd. is setting up a 50 MW wind-solar hybrid power plant with an investment of Rs. 567 crore. It will provide employment to 170 people.

Coromandel

Coromandel International Ltd. has proposed to expand its fertiliser plant in the Kakinada district with an investment of Rs. 1,539 crore, creating employment for 750 people.

ALEP, EMC Kopparthi

ALEP (Association of Lady Entrepreneurs of India) is setting up a food processing project in Kodur with an investment of Rs. 305 crore, creating employment for 6,000 people. EMC Kopparthi is also investing in food processing projects in Kadapa district.

The CM instructed officials to coordinate with companies investing in the state and ensure projects are implemented quickly. He also directed that a convenor be appointed to facilitate rapid permissions and resolve any field-level obstacles.

spot_img

Latest articles

CM Naidu urges bureaucracy for innovative governance, planning

Emphasises for a cohesive Administration Chief Minister Mr Nara Chandrababu Naidu set the stage for transformative governance...

IT Secy. emphasises Digital only Docs

Mandates integration of Data across various departments Holding a recent review meeting at the Secretariat...

Japan’s largest Shipbuilder mulls opportunities in AP

A high profile delegation from the Imabari Shipbuilding Co Ltd recently called upon Andhra Pradesh's chief...

GITAM announces its new VC

Renowned economist and Former Director of the Indian Institute of Management Ahmedabad (IIM-A) Dr. Errol...