Boost to investment sector in Andhra Pradesh

Vijayawada: The new innovative industrial policy (2015-20) has started to yield results. The single-desk clearance policy and other proactive measures by the government is turning AP into an investment destination.

The government has approved four new mega industrial projects on Wednesday which would provide employment to 53,100 people.

SIPB meeting held under the chairmanship of Chief Minister N. Chandrababau Naidu has approved setting up of electronics manufacturing unit by Dixon Technologies Pvt Ltd at Chittoor with Rs 150 crore, ship-building unit by Reliance Defence and Engineering Limited at Visakhapatnam with Rs 5,000 crore, garment unit by Gokaldas Exports Limited at Anantapur with Rs 180 crore and solar manufacturing units by Eaasel GCL Consortium with a total investment of Rs 26,630 crore creating direct employment for 39,900 people and indirect employment for 13,200 people.

In addition to these, the committee approved a framework for approving industrial proposals of investors who are located in other states and intend to expand their business in Andhra Pradesh.

Under this category, three units have been granted permission to set up their units with a total investment of Rs 2,000 crore. United Seamless Tubular Pvt Ltd, Kami-neni Steel & Power Ltd and Oil & Country Tubular Pvt Ltd have been given permission to set up manufacturing units for the producing of alloy steel, pipes, steel billet plant and tubular goods.

This would provide employment for 300 people. The committee approved Land Allocation Requests for three food-processing projects - Vyshnavi Mega Food Park Pvt Ltd, Hatsun Agro Product and Sri Varsha Integrated Food Park Pvt Ltd with a combined total investment of Rs 295 crore and employment for 6,700 people.

The committee also approved supplementary incentives requested by Texport Industries Pvt Ltd, Britannia Industries Limited, Jain Irrigation Systems Limited and Indani Global Pvt Ltd.