VIJAYAWADA: The State Investment Promotion Board (SIPB) meeting under the chairmanship of Chief Minister Jagan Reddy here on Wednesday gave its nod for a proposal to generate 3700mw through a pumped storage project of the Adani Green Energy.
This involves an investment of Rs 15,376 crore in AP. The chief minister asserted the need for the speeding up of industrial development by making effective use of available resources.
“Adani Green Energy project will be developed in four phases. The first phase will be taken up in 2022-23 at a cost of Rs 1349 crore, the second phase in 2023-24 with Rs 6984 crore, the third phase with Rs 5188 crore and the final phase will be completed in 2025-26 with Rs 1855 crore, the meeting was told.
This would create employment opportunity for 4,000 persons.
A few other projects in Kadapa, Parvatipuram, Satya Sai districts for generating green energy were also cleared by the board.
It approved the setting up of a garment manufacturing industry by Punctuate World Pvt Ltd at an outlay of Rs 50 crore in Pulivendula and Kopparthi, providing employment to 4,200 people.
The board also gave its nod for the Avisa Foods Pvt Ltd's Shrimp Processing unit at Mallavalli Foodpark in Krishna district. The investment for this would be of Rs 150 crore, which would create 2500 jobs.
Clearance was also given to set up a hotel (VVPL) in Tirupati under the Novotel group that would put in Rs 126.48 crore and create direct employment to 300 persons and indirect employment to over 2700.
The government would transform the Kopparthi electronic park into a regional textile apparel park, where a Mega Integrated Textile Region and apparel parks will be developed in 1200 acres to produce quality items at low manufacturing cost and create employment opportunities.
The chief minister asked officials to prioritize aspects like connecting the area with railways. The government will provide uninterrupted electricity, water and other infrastructure facilities for the parks, he said.
Jagan said there is immense potential in the state for green energy generation of over 30000mw, which requires about 90,000 acres. Green Energy projects would be of great benefit to farmers as they can earn a minimum lease of Rs 30,000 per acre as a fixed income, especially in rain-fed areas. He directed the officials to look at those projects for which MoUs have been signed.
The chief minister said focus should be laid on bringing global companies to invest in AP, and added that there are opportunities for investments in Electronics, Tourism and Hospitality sectors.
He said there are many electronic manufacturing industries in Kopparthi.
Officials must take steps to set up a railway line to Kopparthi for easy transportation of goods, the CM said, adding that it is also important to connect industrial nodes with railways. Every node should be linked with railway lines, he said.
