AP expects about Rs 46,000 crore investment in mining by 2022

Vijayawada: Andhra Pradesh government is anticipating investments of nearly Rs 46,000 crore in the mining sector by 2022, a senior Mines department official said on Wednesday.

The state government is committed to promote mining related industries in the state at par with other sectors, Secretary, Mines Department, Girija Shankar said Wednesday.

He said this while inaugurating 'Investidea', a networking conclave with domestic mineral based industries here.

The new industrial policy of the State will also be applicable in the mining sector that will enable mine operators to set up new units in Andhra Pradesh, he said.

Under the Industrial policy, all clearances, including forest and environment, will be given within 21 days to set up new industries through a single desk system and the process of every application by industrialist is being monitored by a special cell in the Chief Minister's office, Shankar informed.

He also clarified that incentives like VAT exemption, reimbursement of land registration and lower power tariff would also be applicable on mining related industries.

The government also proposes to appeal to the mining operators to process at least 50 per cent of their total production from the state.

He said Andhra Pradesh has huge iron ore resources and the government is mulling to set up a steel plant in Kadapa district.

The official said with the state being rich in lime stone, new 13 units with an investment of Rs 1,700 crore are in the pipeline.