MNCs gear up for huge investments in Anakapalli, Anantapur, Tirupati
In a breakthrough meeting aimed at boosting investments into Andhra Pradesh, the state investment promotion board (SIPB) accorded approvals to a slew of big-ticket investments.
Held under the chairmanship of the chief minister, Mr N Chandrababu Naidu, SIPB approved investments worth a whopping Rs. 85,083 crores spread across 10 companies and said to create close to 34000 jobs.
AMNS India
Of the biggest of them all is the integrated steel plant proposed by M/s. ArcelorMittal Nippon Steel India at a whopping investment of over Rs 61000 crores with a capacity of 17.8 MTPA.
As per the GO issued this integrated steel plant will be done in 2 phases (7.3 MTPA in frst phase & 10.5 MTPA later) at Rajayapeta (V), D.L. Puram and Vempadu (V), Buchirajupeta(V), Chandanada(V) of Nakkapalli (M), Anakapalli District.
The first phase of the investment is slated to be completed by Jan 2029. In addition the company shall also build a captive port for it to handle vessels, material handling systems and back up areas.
The first phase of this too is to be completed by Jan 2029 wherein it will have 2 bulk berths, 3 multipurpose berths with a combined capacity of 20.5 MMTPA.
Allotment of about 2,200 acres of lands, @ Rs.51,39,690 per acre for Phase-I of the project, subject to verification by the Department that the land requirement is as per steel plant norms said the GO (government order).
KSSL
Simultaneously the government approved M/s. Kalyani Strategic Systems Ltd. (KSSL), a fully owned subsidiary of Bharat Forge Limited (BFL) proposal for establishment of a Defence Energetics facility at Murranahalli Village, Madakasira(Anantapur).
This facility will include a ammunition filling complex, a gun propellant complex and also Future expansion into Missile, warhead and energetics complexes GoAP in the SIPB meeting consented to allocate 1,000 acres of lands for establishment of Defence Energetics facility @ Rs 7 lakhs per acre.
LG Electronics @ Sri City
In addition SIPB after detailed discussion, has recommended to extend certain special package of incentives to M/s .LG Electronics Private Limited for setting up of Refrigerator, Air Conditioner and Washing Machine and components like Compressor (Air Conditoner & Refrigerator), Motor Compre- ssor and Heat Exchanger manufacturing facility with an estimated investment of INR 5,001 Cr and direct employment of 1,495 in Sricity, Tirupati.
This facility will manufacture Refrigerator, Air Conditioner and Washing Machine and components like Compressor (Air Conditioner & Refri- gerator), Motor Compressor and Heat Exchanger manufacturing facility.
Philips Carbon Black
In addition, Philips Carbon Black Limited (PCBL) has proposed to set up plant for manufacture of New Rubber Black & Value-added chemicals at MPSEZ, Naidupeta with an investment of Rs.3,718 Crores and generate direct employment to 200 people.
Some of the other big investments (see table) which have been given the nod include Azad India Mobility Limited with an investment of Rs. 1046 crore, Dallas Technology Center LLP for an investment of Rs. 50 crore, Astha Green Energy Ventures India Private Limited will set up a plant with Rs. 8,240 crore.
Green Co Solar IREP Private Limited would invest Rs. 2,000 crore and Ecoren Energy India Private Limited would invest Rs. 1662 crore.
